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MNI: Australian CPI Energy Rise Impacts RBA Target - ABS Data

MNI (Sydney)
SYDNEY (MNI)

Energy costs are a major factor driving underlying inflation.

Australia’s CPI inflation surged to an annualized 5.1% in the first quarter of this year and analysis by the Australian Bureau of Statistics shows that many of the energy factors driving the CPI are also impacting underlying inflation, which is now at 3.7%.

Underlying inflation is the Reserve Bank of Australia’s preferred measure of inflation and at 3.7% it is now well above the RBA’s 2% to 3% target range, see: MNI BRIEF: Australian Inflation At 5.1% Pressures RBA On Rates.

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Australia’s CPI inflation surged to an annualized 5.1% in the first quarter of this year and analysis by the Australian Bureau of Statistics shows that many of the energy factors driving the CPI are also impacting underlying inflation, which is now at 3.7%.

Underlying inflation is the Reserve Bank of Australia’s preferred measure of inflation and at 3.7% it is now well above the RBA’s 2% to 3% target range, see: MNI BRIEF: Australian Inflation At 5.1% Pressures RBA On Rates.

Keep reading...Show less