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AMW: Factors influencing Australian inflation
In this Weekly, we look at some of the key risks around the Australian inflation outlook in the context of measured inflation turning higher globally. Surveyed measures of retail prices in the NAB Business Survey are pointing to a lift in prices that has so far not materialised in the CPI. There are also a range of policy impacts that are impacting and acting to restrain measured inflation such as the HomeBuilder subsidy and tourism and hospitality vouchers. These factors will continue to complicate a read of underlying inflation pressures until mid-2022, but importantly the risks to CPI are tilting higher. The ... (full story)