Original article by Roy Morgan
Market Research Update – Page: Online : 10-Aug-22

In July 2022, Australians expected inflation of 5.9% annually over the next two years, up 0.2% points from June. Inflation Expectations in July are now 1.8% points higher than a year ago, and 2.5% points above the near record low of 3.4% in July 2020. A look at Inflation Expectations by socio-economic quintile shows large increases across the board since the measure hit record lows in mid-2020 during Victoria’s second COVID-19 wave. Inflation Expectations are lowest for the top ‘AB Quintile’ at 5.3%, although this is up 2.8% points since mid-2020 – the equal largest increase of any socio-economic quintile. Inflation Expectations are progressively higher for each subsequent socio-economic quintile. On a State-based level Inflation Expectations were highest in Tasmania in July at 7%, far higher than any other State. Next highest was the largest State of NSW at 6.3% – also well above the national average. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source which has interviewed an average of 4,700 Australians aged 14+ per month over the last decade, and includes interviews with 7,484 Australians aged 14+ in July 2022.

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