New information from the Australian Bureau of Statistics (ABS) confirmed that headline inflation rose by 1.4 per cent within the March quarter, and by 7 per cent on an annual foundation.
Today’s determine narrowly exceeded market expectations and will increase the probabilities that rates of interest shall be elevated after the RBA determined to carry at 3.6 per cent in April.
Despite this, head of costs statistics on the ABS Michelle Marquardt stated there are indicators that worth rises are starting to ease.
“CPI inflation slowed in the March quarter, with the quarterly rise being the lowest since December 2021,” Marquardt stated.
“While prices continued to rise for most goods and services, many of these increases were smaller than they have been in recent quarters.”
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Source: www.9news.com.au
