Consumer inflationary expectations have eased to the lowest level in 10 years as a result of a slowing economy.
The Melbourne Institute survey of consumer inflationary expectations found the median rate of inflation was 2.3 per cent in May, down from 2.4 per cent in April.
Even the stimulus package measures didn’t help to boost expectations, says Melbourne Institute research fellow Sam Tsiaplias.
“Given the relatively unchanged inflation expectations in May, the immediate effects of the budget on consumer inflationary expectations appear to have been minimal.”
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