Inflation expectations in Australia declined in May, survey data from the Melbourne Institute showed Monday.
The monthly inflation gauge fell 0.2 percent in May following a 0.1 percent rise in April.
In the twelve months to May, the inflation gauge increased 1.0 percent, but slower than the 1.5 percent increase for the twelve months to April.
Contributing to the overall change in May were price falls for fruit and vegetables, down by 4.1 percent, non-durable household products and holiday travel and accommodation.
These were primarily offset by increases in automotive fuel and insurance and financial services.
"Whichever measure happens to be preferred, it is fairly clear that there is a sizeable gap between target and actual inflation," Sam Tsiaplias, a senior research fellow at the Melbourne Institute, said.
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