Australia: Inflation closes 2015 at a 1-year high, averages 1.5% in 2015
January 27, 2016
In the fourth quarter of 2015, consumer prices rose 0.4% over the previous quarter, marginally overshooting market analysts’ expectations of a 0.3% increase but falling short of Q3’s 0.5%. The Australia Bureau of Statistics elaborated that increases in alcohol and tobacco products and international as well as domestic travel were offset by downward price movements in automotive fuel and telecommunications equipment.
Annual inflation came in at 1.7% in Q4, up from 1.5% in Q3, which marked the highest reading in a year. Despite the yearly increase, annual average inflation was steady in Q4, at Q3’s 1.5%, below the Reserve Bank of Australia’s inflation target of 2.0%–3.0%.
Author: Robert Hill, Economist