TD Securities-Melbourne Institute inflation unchanged in May

The TD Securities-Melbourne Institute consumer inflation index was unchanged in May following a 0.5% increase in April. 

The annualised figure ticked up to 2.8% from 2.6%. The Melbourne Institute’s inflation has been positive in eight of the past ten months. Consumer prices in Australia rose 2.1% through the year to the March quarter of 2017 from 1.5% in the fourth quarter 2016.