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MNI INTERVIEW: Fuel Has Wider Impact on Australian Inflation

MNI (Sydney)
SYDNEY (MNI)

Cost for other goods are being driven higher because of rising energy prices.

Rising fuel and transport costs are having a widening impact on the Australian economy and have pushed trimmed mean second quarter inflation – the measure preferred by the Reserve Bank of Australia – up to an annualised 4.9% to the highest level this century.

Michelle Marquardt, the program manager at the Price Division at the Australian Bureau of Statistics, told MNI the sharp increase in trimmed mean inflation “reflected that the price rises covered a wider range of goods and services.”

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Rising fuel and transport costs are having a widening impact on the Australian economy and have pushed trimmed mean second quarter inflation – the measure preferred by the Reserve Bank of Australia – up to an annualised 4.9% to the highest level this century.

Michelle Marquardt, the program manager at the Price Division at the Australian Bureau of Statistics, told MNI the sharp increase in trimmed mean inflation “reflected that the price rises covered a wider range of goods and services.”

Keep reading...Show less