Original article by Roy Morgan
Market Research Update – Page: Online : 12-Jul-23

The latest ANZ-Roy Morgan Inflation Expectations are down 0.4% points to 5.5% in mid-July after increasing steadily during June. This week Australians expected inflation of 5.5% annually over the next two years. Despite the weekly fall, the measure has averaged 5.7% so far in July after increasing significantly from a weekly low of 5.1% in mid-May. The monthly figure for June showed Inflation Expectations of 5.6%, an increase of 0.4% points from May, and the equal highest monthly figure so far this year after dipping to its lowest in over a year in May. Roy Morgan’s Inflation Expectations during 2023 have consistently been followed weeks later by the ABS CPI figures. The monthly ABS CPI figures dropped to 5.6% in May 2023 – down 1.2% points from April (6.8% annual CPI). If the trend continues, we can expect to see the ABS CPI annual figures for June register an increase after dipping in May. The ABS CPI figures for June are due to be released on 26 July. The data for the Inflation Expectations series is drawn from the Roy Morgan Single Source, which has interviewed an average of around 5,000 Australians aged 14+ per month over the last decade and includes interviews with 5,966 Australians aged 14+ in June.

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ROY MORGAN LIMITED, AUSTRALIAN BUREAU OF STATISTICS