Prices remain steady
Prices remain steady in the Australian economy, according to the latest TD Securities-Melbourne Institute monthly inflation gauge.
The gauge was unchanged in September over the previous month, while also recording its lowest yearly rise in the indicator’s seven-year history.
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.
The cost of audio, visual and computing equipment, fruit and vegetables and private vehicles all fell last month, suggesting inflation does not pose a major threat to domestic economic growth.
Official data on inflation will be released on October 28.
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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