Inflation edges up: ABS
Tuesday, April 24, 2012/
Inflation was 1.6% higher for the March quarter than a year ago, according to the ABS.
The first-quarter Consumer Price Index CPI was 0.1% up compared to the December quarter.
The report shows headline inflation fell below the central bank’s target band of 2-3% for the first time in 2½ years.
Pharmaceutical products rose 14.1%, secondary education was up 7.7%, automotive fuel was up 2.5%, medical and hospital services increased 2.1%, the cost of tertiary education went up 4.7% and rents rose 1.0%.
Fresh fruit was down 30%.
International holiday travel and accommodation, furniture, audiovisual and computing equipment and domestic holiday travel all came down.
The Reserve Bank of Australia has indicated the low level of inflation may clear the way for a cash rate cut next month.
Social media mishaps: Why businesses should think twice before cracking jokes online Catriona Pollard CP Communications founder
An ‘opportunity-hunting’ generation: Here's what millennial workers need and want Karen Gately Corporate Dojo founder
Spilling the beans: Why inviting someone to 'grab a coffee' is disingenuous and unnecessary Sue Parker DARE Group founder
The 10 most unemployable job titles on LinkedIn Ian Whitworth Scene Change co-founder
How Emily McWaters manages her Sydney-based business from Kangaroo Island Emily McWaters The Hamper Emporium chief
Why 'Orwellian' performance monitoring is crucial to building an ethical company culture Michael Kodari Kodari Securities chief