Australia’s first-quarter inflation hits 5-1/2-year high, prices to plunge in second quarter
By Administrator_India Capital Sands Australian inflation accelerated to its highest in over five years last quarter, data showed on Wednesday, but the long-desired pick-up is likely to be fleeting in the face of a coronavirus lockdown and collapsing energy prices. The headline consumer price index (CPI) rose 0.3% in the first quarter, from the previous quarter, lifting annual inflation to 2.2% from 1.8%. That was the highest reading since the third quarter of 2014 and topped forecasts of 2.0%. It was also the first time inflation reached the Reserve…
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