Australian Consumer Inflationary Expectations Unchanged In October

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Australia's consumer inflationary expectations remained unchanged in October, the latest survey from the Melbourne Institute said Thursday. The median expected inflation rate stood at 3.5%.

Sam Tsiaplias, Research Fellow at the Melbourne Institute said the inflationary expectations has remained stable for the last three months, and the proportion of consumers who expect inflation to remain with the RBA's target band of 2%-3% continued to remain within the 17-17.5 percent range.

However, Tsiaplias pointed out that the survey results did not indicate that the consumer inflationary expectations were overly high. According to him, the median inflationary expectations is at its 10-year average, while the proportion of consumers expecting inflation within 2-3 percent is only slightly below its 10-year average of 18.1%.

(Market News Provided by RTTNews)