Australia: Inflation gauge rose by +0.2% in August - TDS

Research Team at TDS, notes that the Melbourne Institute Inflation gauge rose by +0.2% in August to be +1.2% higher than a year earlier.

Key Quotes

“Trimmed mean was flat, again.  Q2 inventories +0.3%/qtr, but after a couple of soggy quarters, Q2 company profits jumped +6%, vs +2% forecast by the market.  The risk to company profits was to the upside given the improvement in the terms of trade.  TD staying with +3.4%/yr until we digest net exports and government spending tomorrow.”