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(CEP News) - Australian inflation decreased by 0.6% month over month in November, according to the TD Securities monthly inflation estimate. In October, the estimate was at -0.2%.
This puts annual inflation at 3.0%, below the Australian Bureau of Statistics' current 5.0% inflation level. Nevertheless, the forecast is just within the Reserve Bank of Australia's target range of 2-3%. The Reserve Bank of Australia has their monetary policy meeting tomorrow, where they are expected to cut rates sharply to 4.50% from 5.25%. On a three-month annualized basis, inflation was down 1.7% in November, down from the previous month's +1.3% rate, the report said. By Megan Ainscow,
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