Australian private survey inflation indicator edges higher for March

Melbourne Institute inflation gauge
+0.1% m/m in March
– prior -0.3% m/m
+2.2% y/y
– prior +2.1% y/y

Trimmed mean +0.1% m/m also (prior -0.1%) and +1.6% y/y. The Reserve Bank of Australia target band (over the course of a cycle) is 2 to 3 percent. So at 1.6% … under.  —