TD Securities analysts highlight a record monthly rise in the Melbourne Institute Inflation Gauge, pushing headline and trimmed mean inflation to their highest non-COVID levels since 2008. At the same time, Australian household spending growth is modest and momentum is slowing. They warn that higher Oil prices after the US?Iran war breakout skew spending risks to the downside in coming months.

Inflation spikes as spending momentum slows

“In a sign of what’s to come, the headline inf