The ANZ-Roy Morgan inflation expectations for the week of August 19-25 dropped to 4.8%, down from 5.1% in July, marking a decrease from the year’s average of 5%.
“ANZ-Roy Morgan Inflation Expectations in Australia declined in late August and are now at 4.8%,” said Roy Morgan CEO Michele Levine (pictured above).
Petrol prices, a significant factor in inflation expectations, saw a decrease in July, with average prices dropping over three cents per litre to $1.90.
“Since late July, average retail petrol prices have dropped by over 12 cents per litre,” Levine said, linking the decline to the easing of inflation pressures.
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South Australia and Queensland led the nation with the highest inflation expectations in July at 5.9% and 5.5%, respectively.
Meanwhile, Tasmania recorded the lowest at 4.4%.
“The latest results from the weekly ANZ-Roy Morgan inflation expectations suggest the upward pressures on inflation were short-lived during July and have subsided in recent weeks as energy costs have fallen,” Levin said.
“The volatility in energy prices, and inflation expectations, shows how sensitive Australians are to changes in the prices of essential everyday goods – like petrol.”
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