Saturday, July 26, 2014   

Australia inflation rises
(01-22 11:46)

Inflation in Australia was a stronger-than-expected 0.8 percent in October-December from the previous quarter, official figures show.
Economists had anticipated a quarterly rise in the consumer price index, a key measure of inflation, of about 0.5 percent after it hit 1.2 percent in the previous three months.
The Australian Bureau of Statistics said today the CPI increased by 2.7 percent year on year, from 2.2 percent in July-September.
The annual rate is towards the top of the central Reserve Bank of Australia's preferred range of 2-3 percent, and analysts said it could deter a further cut in the official cash rate, now at an historic low.
“I think it puts a lid on further RBA cuts,'' said Invast chief market analyst Peter Esho.--AFP

   
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