Australian inflation hits 4.1 percent as rate hike looms
Consumer prices rose 1.4% in the first quarter due to rising energy costs. The Reserve Bank of Australia may raise interest rates to curb high inflation.
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Australia consumer prices rose 1.4% in the first quarter, pushing annual inflation to 4.1% from 3.6%. This marks the fastest quarterly acceleration since late 2023 as energy costs rose following the conflict in Iran. The data raises the probability of a Reserve Bank of Australia (RBA) interest rate hike to 76% next week.
