A Turning Point for Inflation?
The TD Securities – Melbourne Institute Monthly Inflation Gauge rose by 0.3% in December, following a 0.3% rise in November. In the twelve months to December, the Inflation Gauge rose by 2.6%. This is a fairly rapid acceleration from the October low of 1.2% y/y, which may well have been a turning point for CPI inflation. According to the Melbourne Institute, the gauge points to an increase in the December quarter CPI of 0.1%, yielding an annual inflation rate of 1.7%, a pick-up on the 1.3% annual rate seen in the September quarter. The December quarter CPI is released on 27 January.
posted on 18 January 2010 by skirchner in CPI, Economics, Financial Markets, Monetary Policy
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