Australia inflation expectations rise in March while pay growth expectations declined

Australia expected inflation rate as represented by the Melbourne Institute Survey of Consumer Inflationary Expectations, increased by 0.1 percentage points in March to 3.7 per cent from 3.6 percent in February. 

Total pay growth over the 12 months to March 2018 increased to 2.0 percent vs. December quarter reading of 1.5 percent. However, respondents appear cautious about future wage growth as the pay growth expectations in the next 12 months fell to 1.8 per cent from 2.4 per cent in the previous quarter.