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Melbourne Institute Survey of Consumer Inflationary Expectations
Inflationary expectationsfell again in September. The expected inflation rate,reported in the Melbourne Institute Survey of ConsumerInflationary Expectations, fell to 1.5 per cent in September from 2.3 per cent in August. It is now 0.5 percentage points below the Reserve Bank of Australia’s(RBA)target band (of 2‐3 per cent). This month’ssurvey also includes quarterly information on past and future pay growth in Australia. Actual pay growth over the past 12 months to September 2013 rose by just 0.1 percentage points to 2.1 per cent while expected pay growth in the coming 12monthsremained unchanged at 2.7 per cent. ... (full story)