Prices remain steady in the Australian economy, according to the latest TD Securities-Melbourne Institute monthly inflation gauge.
The gauge was unchanged in September on a monthly basis. The gauge also recorded its lowest yearly rise in the indicator’s seven-year history at 1.3 percent, well below the Reserve Bank of Australia’s 2-3 percent target band.
TD Securities Senior Strategist Annette Beacher said the gauge showed annual inflation was at a “comfortably low level when assessing the current stance of monetary policy” determined by the Reserve Bank of Australia.
Official data on inflation will be released on October 28.
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