Australia's Q1 2024 CPI rose 1.0%, led by rents, education, and medical services; annual non-tradable inflation at 5.0%.
Australia's Consumer Price Index (CPI) rose 1.0% in Q1 2024, exceeding expectations of a 0.8% increase. The most significant price rises this quarter were rents (+2.1%), secondary education (+6.1%), tertiary education (+6.5%), and medical and hospital services (+2.3%). Annual inflation for non-tradables was 5.0%, down from 5.4% in the previous quarter, while tradables saw a lower 0.9% inflation rate.
April 24, 2024
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