The Monthly Inflation Data

The Australian Bureau of Statistics has released its monthly inflation data. The headline is that prices are down from 6.8% in April to 5.6%. But it's seasonally adjusted, and the previous number was from last May to this year. So what happened between April and May? Prices on average fell by 0.4%. Well, you know, crucky. That is not what you're hearing. And hopefully the readers of the video haven't gone off the deep end.