Australian monthly inflation indicator flashes fresh price warning

(Image: Bloomberg)

Wed, 29 May 2024

By James Glynn SYDNEY– Consumer price pressures rose unexpectedly in April, sending a further warning to the Reserve Bank of Australia (RBA) to remain vigilant while affirming the central bank’s decision earlier this month to put the possibility of a further interest-rate rise back on the table.The monthly consumer-price index indicator rose 3.6% in the 12 months to April, compared with 3.5% in March, the Australian Bureau of Statistics said Wednesday. Economists had expected a fall to 3.4%.“Inflation has been relatively...

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