In a quiet final week of Q1, the Australian economy was in the spotlight. Following better-than-expected but lackluster retail sale figures on Tuesday, Australian inflation figures drew interest this morning.
The monthly CPI indicator increased by 6.8% in February versus 7.4% in January. Economists forecast the CPI indicator to soften to 7.1%.
According to the ABS,
- Prices for housing (+9.9%), food & non-alcoholic beverages (+8.0%), and transport (+5.6%) saw the most significant annual price increases in February.
- Holiday travel & Accommodation prices softened, with prices rising by 14.9% in February compared with 17.8% in January.
- House price pressures also eased despite making the most significant contribution to the February…
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