Australia Inflation Reaccelerates to 4.6% in March Quarter
Australia’s annual inflation rate accelerated to 4.6% in the March quarter from 3.7% previously, while the monthly CPI reading rose 1.1% after no change previously. The annual figure was slightly below a 4.8% estimate.
Underlying inflation was mixed, with the monthly trimmed mean rising to 0.3% from 0.2%, while the quarterly trimmed mean eased to 0.8% from 0.9% and came in below a 0.9% forecast. Fuel costs were cited as a major driver of the increase.
From the sources (5 posts)
@firstsquawkAUSTRALIA (MAR) CPI MOM ACTUAL: 1.1% VS 0.0% PREVIOUS
@firstsquawkAUSTRALIA (MAR) CPI YOY ACTUAL: 4.6% VS 3.7% PREVIOUS;EST 4.8%
@firstsquawkAUSTRALIA (MAR) CPI TRIMMED MEAN MOM ACTUAL: 0.3% VS 0.2% PREVIOUS
@firstsquawkAUSTRALIA (Q1) CPI TRIMMED MEAN QOQ ACTUAL: 0.8% VS 0.9% PREVIOUS;EST 0.9%
@theprojecttvAustralia’s annual inflation has jumped to 4.6% in the March quarter, driven largely by soaring fuel costs, putting fresh pressure on households. The stronger-than-expected result has increased the likelihood of another interest rate hike