In the fourth quarter, consumer prices were unchanged over the previous quarter, which was below both the 0.6% rise recorded in the third quarter as well as market expectations of a 0.2% increase. Lower prices for food (-1.5% quarter-on-quarter) and healthcare (-1.2% qoq) offset higher prices for communications (+1.1% qoq) as well as for alcohol and tobacco (+0.9% qoq). Annual headline inflation edged down from 3.5% in the third quarter to 3.1% in the fourth. For the whole 2011, annual average inflation reached 3.4%, which was above the average 2.8% inflation recorded in 2010. The Reserve Bank of Australia (RBA) sees inflation ending this year at 3.25%. The RBA maintains a medium-term annual average inflation target of 2.0% - 3.0%.
Inflation flat in fourth quarter
January 25, 2012
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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.