Australia: Annual average inflation hits record low in Q3
October 28, 2015
In the third quarter of 2015, consumer prices rose 0.5% over the previous quarter, marginally undershooting market analysts’ expectations of a 0.6% increase and coming in slightly below Q2’s 0.7% rise. The quarterly figure was driven by increases in international holiday travel and accommodation, fruit and property rates and charges. These price increases were partially offset by lower prices for vegetables, telecommunication equipment and services, and automotive fuel.
Inflation tallied a 1.5% rise in Q3, which mirrored Q2’s result. Despite the yearly increase, annual average inflation broke another all-time record in Q3, falling from 1.7% in Q2 to 1.5% in Q3.
Author: Robert Hill, Economist