The expected inflation rate (30-per-cent trimmed mean measure), reported in the Melbourne Institute Survey of Consumer Inflationary Expectations, was unchanged in June at 3.3 per cent. In June, the weighted proportion of respondents (excluding the ‘don’t know’ category) expecting the inflation rate to fall within the 0-5 per cent range increased by 1.5 percentage points to 71.8 per cent. The weighted mean of responses within this range increased by 0.2 percentage points to 2.3 per cent. This month’s survey also includes information on past and future pay growth in Australia. Total pay growth over the 12 months to ... (full story)