In the first quarter of 2011, consumer prices added 1.6% over the fourth quarter. The price rise was above the 0.4% increase recorded in the previous quarter and marked the highest quarterly increase since Q2 2006, while also beating market expectations of a 1.2% increase. The main drivers behind the quarterly increase were prices for healthcare (+3.9% quarter-on-quarter) and for food (+2.9% qoq), in addition to a pick-up in prices for transport (+2.7 qoq), reflecting the impact of rising oil prices. As a result of the quarterly increase, headline inflation jumped from 2.7% in the fourth quarter to 3.3% and annual average inflation stepped up from 2.8% to 3.0%. Monetary authorities currently expect inflation to end the year at 3.25% and maintain a medium-term annual average inflation target of 2.0% - 3.0%.
Inflation accelerates in Q1
April 27, 2011
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Australia Economic News
October 12, 2016
The Westpac-Melbourne Institute Survey of Consumer Sentiment increased 1.1% in October as the index rose from September’s 101.4 to 102.4.
October 11, 2016
The business confidence index published by the National Australia Bank (NAB) was stable in September at August’s 6 points.
October 5, 2016
Nominal retail sales inched up 0.4% in August from the previous month in seasonally-adjusted terms, up from July’s flat reading.
October 4, 2016
At its 4 October monetary policy meeting, the Reserve Bank of Australia (RBA) kept its policy rate steady at an all-time low of 1.50% after cutting its rate by 25 basis points twice this year, once in May and once in August.
September 15, 2016
The labor market lost 3,900 net new jobs in August compared to the previous month in seasonally-adjusted terms.