In today’s podcast, NAB Group Chief Economist Alan Oster discusses the following:

• The ABS will release its latest CPI figures this week and a low number is essentially baked in due to the Commonwealth government’s free childcare policy during the quarter. With this policy now finished, there will be a commensurate upside next quarter. But the bottom line is that with unemployment so high, demand will struggle and so we expect low inflation to continue.
• We have already seen some slowing in activity even outside the virus hotspot of Victoria. Melbourne is now essentially half way through its initial 6 week restriction period but with cases still growing there is a substantial risk this will be extended.

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