Australia: Inflation accelerates in March from the prior month
Latest reading: Consumer prices were up 4.6% in annual terms in March, following a 3.7% rise in the previous month. March’s reading was the strongest since October 2023 and above the Central Bank’s target of 2.0–3.0%.
Relative to the prior month’s figures, there were higher price pressures for clothing (+7.0% on a year-on-year basis vs +4.9% in February) and transportation (+8.9% vs -0.2% in February). In contrast, price pressures reduced for housing in March (+6.5% vs +7.2% in February).
Finally, consumer prices increased 1.12% in March in month-on-month terms, following a 0.02% fall in the previous month.