2015.12.1000:36:00UTC+00Australia's Inflation Expectations Rise In December

Inflation expectations in Australia increased in December, survey data from the Melbourne Institute showed Thursday.

The expected inflation rate rose to 4 percent in December from 3.5 percent in November.

The proportion of respondents expecting inflation to reach within the 0-5 percent range fell by 4.2 percentage points to 74.2 percent.

The survey also includes quarterly information on past and future pay growth. Actual pay growth over the 12 months to December fell by 0.9 percentage points to 3.0 percent.

At the same time, pay expectations in the coming 12 months dropped to 1.6 percent in December from 2.9 percent in September.

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