MI Inflation Expectations fell to 3.2%

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Thursday, Jan 22 2015

The expected inflation rate reported in the Melbourne Institute Survey of Consumer Inflationary Expectations, fell by 0.2 percentage points to 3.2% in January 2015 from 3.4% in December 2014. This was mostly in line with market expectations. In January, the proportion of respondents (excluding the ‘don’t knows’) expecting the inflation rate to fall within the 0-5 per cent range decreased by 6 percentage points to 71.6% in January from 77.6% in December.

This was mainly due to a large drop in the cluster of responses around the expected price change of 5%. As a result, the weighted mean of responses within the 0-5 per cent range fell to 2.4% from 2.6% in December, signalling a shift in the distribution of responses within this range towards the lower end.

Data did not have any significant impact on the markets with Aussie currently being traded few points above 0.8060 level. Pair is likely to find support around 0.8030 area and resistance above 0.8130 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.

More in this category: « Building Permits at an annual rate of 1,032,000 Public Sector Net Borrowing at £12.5 billion »

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