ONLY CHARTS #141

Aus inflation, Aus new car sales, Aus PMI, NZ company liquidations, US labour market, World data surprise

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1. Melbourne Institute’s (MI) monthly inflation gauge for Australia was sitting below official quarterly inflation readings in July on both a headline and trimmed mean basis.

While the MI measures have not been a reliable nowcast of the ABS equivalents in recent years, we think of them as somewhat independent readings on the inflation pulse.

2. In year-ended terms, the MI trimmed mean inflation gauge declined further in July to under 3%.