Within the Q1 CPI release the ABS notes...>

AUSTRALIA: Within the Q1 CPI release the ABS notes that "the most significant

price falls for the quarter were for automotive fuel (-6.0 per cent), domestic

holiday travel and accommodation (-3.1 per cent) and international holiday

travel and accommodation (-3.0 per cent). ABS Chief Economist, Bruce Hockman

said: "Drought and bushfire related effects impacted prices for a range of food

products. Prices rose in the March 2020 quarter for fruit and vegetables (+6.0

per cent) and meat and seafood (+2.0 per cent). "There were some price effects

of COVID-19 apparent in the March quarter due to higher purchasing of certain

products towards the end of the quarter, as restrictions came into effect. "Most

notably, rises were seen in, other non-durable household products (+3.4 per

cent), which includes toilet paper; personal care products (+2.2 per cent),

which includes soap and hand sanitiser; and other cereal products (+4.4 per

cent), which includes rice and pasta. "More evident effects of COVID-19 are

expected in the June quarter CPI." Mr Hockman said: "CPI annual inflation was

above 2 per cent for the first time since 2018 and the highest since September

2014 quarter.""