Australian consumer expectations rise for third straight month
13 August 2009
Consumer expectations of inflation have risen for a third straight month as positive housing and employment figures suggest the economy is picking up, a survey says. The Melbourne Institute survey of consumer inflationary expectations found the median expected inflation rate was 3.5 per cent in August, up from 3.2 per cent the previous month. The measure has risen 1.2 percentage points since reaching 2.3 per cent in May this year. Melbourne Institute research fellow Sam Tsiaplias said signs that the economy has escaped the worst of the economic crisis was behind the slight lift in inflation expectations.