The Melbourne Institute's 12-month gauge of inflation expectations fell to 0.3% in September, following a reading of 0.1% in the previous month. The annualised inflation expectation number came-in at 2.5% vs. 2.6% previously. Trimmed mean also ticked higher to 0.3% m/m and 2.5% y/y.
However, workers are resigned to meager wage growth over the coming year. . Pay packets were expected to grow at an average 1.7 per cent in the year to next September, the poll found. That is unchanged from three months ago, but slightly below annual growth in the official Wage Price Index, at 1.9 per cent.
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