A private inflation measure from Australia:
TD Securities Inflation/Melbourne Institute (MI) Inflation Gauge for April
For the m/m, +0.3%
- prior was +0.4%
For the y/y, +1.4%
- prior was +1.5%
Trimmed mean +1.4% y/y
- prior +1.6% y/y
Note ... Slowing in non-tradable prices (1.8% y/y from 2.5% prior month) ... this is significant as inflation here has been high in recent years
Comment from Annette Beacher, chief Asia-Pac macro strategist at TD Securities:
"For the RBA Board meeting, the combination of sub-trend economic growth, lower terms of trade and a low inflation environment all tilt the odds towards the RBA delivering a cut to 2 percent"
