Australia's consumer prices rose more than forecast in the second quarter as high cost of food and fuel put pressure on inflation.
Prices rose by 3.6% in the three months to the end of June from the same period last year, latest data showed.
Food prices in the country have been rising in the aftermath of the devastation caused by floods and cyclones earlier this year.
Analysts said the data may force the central bank to raise interest rates.
"It's a nasty looking number," said Michael Blythe of Commonwealth Bank of Australia.
"It suggests the direction of the next rate move is going to be up, even if there is some uncertainty about when the Reserve Bank might pull the trigger," he added.
Source: BBC
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
EAG receive invitation to 2025 Esports World Cup in Riyadh
3 minutes -
Payaza earns triple credit rating in major win for African fintech
11 minutes -
I don’t trust OSP; he doesn’t know what he is doing – Tony Aidoo
14 minutes -
Regional Maritime University receives workboat, cash support from MODEC
25 minutes -
We have become a nation of sycophants – Tony Aidoo
39 minutes -
NPP has not sidelined Kufuor – Akomea replies
49 minutes -
GhIPSS joins race for glory at 2025 JoySports Invitational
57 minutes -
Nana Akomeah explains why NPP rejected Kufuor’s petition to postpone national conference
1 hour -
Nothing justifies assault on Hawa Koomson – Tony Aidoo
2 hours -
Today’s front pages: Thursday, July 17, 2025
2 hours -
WAFCON 2024: Black Queens receive $2000 from Sports Ministry for reaching last eight
2 hours -
GES reinstates PTAs in pre-tertiary schools following presidential directive
2 hours -
GBA Executive Board’s mandate extended by 30 days – NSA
2 hours -
Dr. Kingsley Agyemang’s quiz champions power OPASS into the NSMQ 2025 Eastern Regional stage
3 hours -
Ghana Scholarships Authority Bill will end nepotism and corruption – Edem Agbana
3 hours