Australia Consumer Prices Jump 1.0% In Q1

(RTTNews) - Consumer prices in Australia were up a seasonally adjusted 1.0 percent on quarter in the first quarter of 2024, the Australian Bureau of Statistics said on Wednesday.

That exceeded expectations for an increase of 0.8 percent and accelerated from 0.6 percent in the three months prior.

The most significant price rises this quarter were rents (+2.1 percent), secondary education (+6.1 percent), tertiary education (+6.5 percent) and medical and hospital services (+2.3 percent).

On a yearly basis, inflation climbed 3.6 percent - again topping forecasts for 3.4 percent but slowing from 4.1 percent in the previous three months.