KEY POINTS FROM LATEST INFLATION DATA
Inflation seems to be on its manner down from its December quarter peak, in accordance with quarterly Australia Bureau of Statistics shopper worth index information. But the price of dwelling stays excessive and is taking a toll on households.
* Headline inflation is down from 7.8 per cent annual progress within the December quarter to seven per cent within the March quarter.
* On a quarterly foundation, inflation rose 1.4 per cent within the March quarter, down from a 1.9 per cent carry within the quarter earlier than.
* New dwelling development (+12.7 per cent), home journey (+25 per cent) and electrical energy (+15.5 per cent) had been the most important contributors to inflation progress within the 12 months to March.
* Trimmed imply inflation, which excludes huge worth rises and falls attributable to provide shocks, moderated from 6.9 per cent within the December quarter to six.6 per cent annual progress by way of to March.
* Goods annual inflation eased after two years of regular will increase, from 9.5 per cent to 7.6 per cent, resulting from decrease petrol costs and discounting on furnishings, home equipment and garments.
* Services annual inflation recorded its largest annual rise since 2001, surging to six.1 per cent yearly and up from 5.5 per cent, pushed by greater costs for vacation journey, medical companies, rents and restaurant meals.
* The quarterly carry was pushed by sharp rises in medical and hospital companies (4.2 per cent), tertiary training (9.7 per cent), fuel and different family fuels (14.3 per cent) and home vacation journey and lodging (4.7 per cent).
* Food costs continued to trace upwards, with moist climate in potato-growing farmland resulting in greater costs for chips and different potato merchandise.
* Rents rose 1.6 per cent over the quarter, with tight emptiness charges retaining upwards stress on the rental market however the price of new house constructing continues to average.
* International vacation and journey fell 8.2 per cent as some locations entered off-peak seasons.
* There had been additionally falls throughout furnishings (-4.6 per cent), main and small home equipment (-3.8 per cent and -3.6 per cent) and clothes (-3.2 per cent) as retailers put objects on sale.
Source: www.perthnow.com.au
