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MNI BRIEF: Australian Inflation At 5.1% Pressures RBA On Rates

MNI (Sydney)
SYDNEY (MNI)

The first quarter figure was above expectations and core inflation jumped to 3.7%.

Australian CPI inflation surprised on the upside on Wednesday, printing at 5.1% for the first quarter of 2022 and up from 3.5% last quarter, and above expectations for a 4.5% increase.

Core inflation, which is the Reserve Bank of Australia's preferred measure, jumped to 3.7% from 2.6%, putting pressure on the central bank when it meets next week, see: MNI INSIGHT: Market Rates Pricing Races Ahead But RBA Cautious.

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Australian CPI inflation surprised on the upside on Wednesday, printing at 5.1% for the first quarter of 2022 and up from 3.5% last quarter, and above expectations for a 4.5% increase.

Core inflation, which is the Reserve Bank of Australia's preferred measure, jumped to 3.7% from 2.6%, putting pressure on the central bank when it meets next week, see: MNI INSIGHT: Market Rates Pricing Races Ahead But RBA Cautious.

Keep reading...Show less