Economists had tipped CPI growth for the March quarter of 0.8%, and an annual inflation rate of 3.5%
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Australia’s inflation rate slowed less than expected in the March quarter as rents and education costs increased, dimming hopes the cost-of-living crunch was easing and lessening chances of a 2024 cut in official interest rates.
The consumer price index for the first three months of 2024 was 3.6% higher than a year earlier, slowing from the 4.1% annual pace in the December quarter, the Australian Bureau of Statistics said on Wednesday. Economists had tipped CPI growth would drop to 3.5%.
Continue reading…Economists had tipped CPI growth for the March quarter of 0.8%, and an annual inflation rate of 3.5%Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s inflation rate slowed less than expected in the March quarter as rents and education costs increased, dimming hopes the cost-of-living crunch was easing and lessening chances of a 2024 cut in official interest rates.The consumer price index for the first three months of 2024 was 3.6% higher than a year earlier, slowing from the 4.1% annual pace in the December quarter, the Australian Bureau of Statistics said on Wednesday. Economists had tipped CPI growth would drop to 3.5%.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…
