Australia's inflation expectations increased further in July, survey figures from the Melbourne Institute showed Thursday.
The expected inflation rate rose by 0.4 percentage points to 3.4 percent in July from 3.0 percent in the preceding month, the Consumer Inflationary Expectations survey revealed.
The proportion of respondents expecting the inflation rate to fall within the 0-5 percent range dropped by 2.0 percentage points to 76.3 percent in July, after marking a large increase of 6.8 percentage points in June.
Meanwhile, the weighted mean of responses within this range rose to 2.6 percent from 2.3 percent in June.
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