Australia: Inflation picks up in Q4
January 25, 2017
In the fourth quarter of 2016, consumer prices in Australia rose 0.5% over the previous quarter, coming in below Q3’s mark and market expectations, both at 0.7%. The Australian Bureau of Statistics said that lower prices for furnishings, household equipment and services and communication registered the most significant decreases in Q4. These decreases were partially offset by higher prices for tobacco, automotive fuel and restaurant meals.
Inflation came in at 1.5% in Q4, up from 1.3% in Q3 and the highest mark since Q4 2015. Meanwhile, inflation for the full year was 1.3%, below both the 2.5% in 2015 and the Reserve Bank of Australia’s inflation target of 2.0%–3.0%.
Author: Christopher Mc Innes, Economist