Australia Melbourne Institute May inflation -0.2% vs +0.1% m/m prior

CPI inflation estimate from the Melbourne Institute:

– Prior reading was +0.1% m/m

– y/y inflation +1.0%

– Prior y/y reading was +1.5%

This is a private inflation gauge and it’s rarely a market mover but it’s the kind of number that should worry the RBA. The chance of a cut this week is at just 7.7% in the OIS market but July is at 32% and Aug at 51.2%. This is the kind of number that could held lead to a more dovish statement on June 7.

sumber: