
Australia's consumer price inflation remained relatively benign in the June quarter, accelerating less rapidly then Australian economists had predicted.
The latest consumer price index released on Wednesday rose 0.7 percent in the three months to June for an annual inflation at 1.5 percent - below the central bank's 2 to 3 percent inflation target.
Underlying inflation, which removes the effects of volatile price movements, rose an average of 0.55 percent in the June quarter for an annual rate of 2.3 percent.
"I think basically what this CPI data shows is that inflation remains well contained," St. George senior economist Jo Horton told local media.
Horton said Australia's petrol price, rising 12.2 percent, from the first quarter of 2015, was also a major factor driving overall prices higher.
Petrol price is unlikely to have a large impact on the next quarterly numbers due to the pressure on global oil prices, CommSec economist Savanth Sebastian said.
Economists had forecast gains of 0.8 percent and 1.7 percent respectively. Prices rose 0.2 percent and 1.3 percent in the first quarter.
The result keeps open options for the Reserve Bank of Australia (RBA) to again ease monetary policy if needed, however economists predict rates will remain on hold.
GMT 09:54 2018 Tuesday ,23 January
Davos-bound bosses very upbeat on world economyGMT 09:37 2018 Tuesday ,23 January
Former KPMG executives charged in accounting oversight scamGMT 22:49 2018 Sunday ,21 January
Brexit special trade agreement possibleGMT 22:46 2018 Saturday ,20 January
China economy rebounds in 2017 with 6.9% growthGMT 22:37 2018 Saturday ,20 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 19:58 2018 Saturday ,20 January
Watchmakers hope to make Chinese market tickGMT 19:54 2018 Saturday ,20 January
US shutdown unlikely to harm debt rating: FitchGMT 19:50 2018 Saturday ,20 January
EU's Moscovici slams Ireland, Netherlands as tax 'black holes'

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor