The Consumer Price Index (CPI) rose 1.0% this quarter. • Over the twelve months to the March 2024 quarter, the CPI rose 3.6%. • The most significant price rises this quarter were Rents (+2.1%), Secondary education (+6.1%), Tertiary education (+6.5%) and Medical and hospital services (+2.3%). Main features: All groups CPI, Australia, quarterly and annual movement (%).{chart} Weighted average of eight capital cities {table} Annual CPI inflation continues to ease in the March quarter: Annual CPI inflation was 3.6 per cent in the March 2024 quarter, lower than the 4.1 per cent annual rise in the previous quarter. This ... (full story)

Inflation has continued to ease, with the increase in the consumer price index falling from 4.1 per cent for the 12 months to December to 3.6 per cent in March. The latest figures, released today by the Australian Bureau of Statistics, brings inflation closer to the Reserve Bank's target range of between 2-3 per cent, but is largely in line with market predictions. The quarterly rise of 1 per cent – higher than last quarter's 0.6 per cent increase – will further dent chances of an early rates cut. "The CPI rose 1.0 per cent in the March quarter, higher than the 0.6 per cent rise in the December 2023 ... (full story)

Australia’s inflation rate slowed less than expected in the March quarter, dimming hopes the cost of living crunch was easing and chances of a 2024 cut in official interest rates. The consumer price index for the first three months of 2024 was 3.6%, slowing from the 4.1% annual pace in the December quarter, the Australian Bureau of Statistics said on Wednesday. Economists had tipped CPI would drop to 3.5%. The March quarterly inflation rate was 1%, compared with the 0.6% pace in the December quarter. Economists had tipped it would rise to 0.8%. The country’s inflation rate has been falling since it hit a peak at the ... (full story)