Thursday, a survey from Melbourne Institute showed that the expected median inflation rate in Australia fell to 3.3% in November. This result was considerably down from the surveyed expected inflation rate of 4.4% as reported in October.
The Melbourne Institute Survey of Consumer Inflationary Expectations examines inflation expectations for the coming 12 months.
The decline in inflationary expectations reflects rising pessimism regarding domestic and global economic conditions. Only 61% of consumers expect prices to rise in the coming 12 months, which was the lowest proportion since March 2001.
Sam Tsiaplias, Research Fellow at the Melbourne Institute of Applied Economic and Social Research said although expectations of inflation have not increased for the fifth consecutive month, only 9.5% of consumers expect annual inflation to be within the Reserve Bank's target band of 2%-3%, compared to the 13.4% this time last year.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.