Australia Inflation

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Australia: Inflation accelerates slightly in Q2

July 23, 2014

In the second quarter of 2014, consumer prices rose 0.5% over the previous quarter, which was just below the 0.6% rise tallied in Q1. The result was in line with market expectations. The quarterly increase reflected that higher prices for health services, alcohol and tobacco, as well as for clothing and footwear, more than offset lower prices for transport and communication.

Annual inflation inched up from 2.9% in the first quarter to 3.0% in the second, which marked the highest reading since Q3 2011. Consequently, annual average inflation rose slightly from 2.6% in Q1 to 2.7% in Q2.

FocusEconomics panelists expect that inflation will average 2.7% in 2014, which is unchanged from last month's forecast. For 2015, panelists see average inflation of 2.5%.


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Australia Inflation Q2 2014

Note: Year-on-year and quarter-on-quarter variation of consumer price index in %.
Source: Australian Bureau of Statistics.


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