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:
Latest Stories
-
Illness, mental health, other factors fuel worker absenteeism in Ghana – Report
8 minutes -
Boycott any invitation from ORAL team – Minority to former gov’t officials
30 minutes -
NDC’s Chief Kwamigah congratulates Volta regional minister-designate
34 minutes -
Culture Forum writes to Mahama ahead of culture minister appointment
43 minutes -
Agribusiness consultant advocates for transformative plan to boost Ghana’s food security and economic growth
47 minutes -
Mechanic jailed 10 years jail for robbing student
53 minutes -
Prof. Maxwell Darko Asante appointed Director of CSIR-Crops Research Institute
56 minutes -
Taskforce arrests 5 suspected illegal miners at Wenchi-Atuna
57 minutes -
No serious gov’t will entertain ORAL – Minority
1 hour -
Ashanti Region recorded 1,172 fire cases in 2024
1 hour -
Obed Psych and Lamisi unite on new single ‘Together Forever’
1 hour -
Kantamanto fire: Sprinter Benjamin Azamati donates GH¢10k to victims
1 hour -
BlacVolta redefining entertainment and lifestyle media in Accra’s Detty December
2 hours -
T-bills auction: Government to raise GH¢6.35bn on January 17, 2025
2 hours -
African Trade Chamber inducts 120 into 2025 Future Trade Leaders Fellowship
2 hours