Australia's Bureau of Statistics to release March quarter CPI, economists expect minor quarterly inflation uptick but smaller annual increase than 4.1% end of 2021.

Australia's Bureau of Statistics is set to release the March quarter consumer price index, a key data point before the May Reserve Bank board meeting. Economists expect a minor uptick in the quarterly pace of inflation in March, but the annual price rise is expected to be smaller than the 4.1% rise at the end of last year due to base effects. The Reserve Bank of Australia (RBA) anticipates inflation reaching 3.3% by mid-2024 and 2.8% by late 2025.