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.