What was the March quarter inflation?
Consumer price inflation rose by 1.4 per cent in the March quarter, according to the Australian Bureau of Statistics.
Data from the ABS covering the three months to 31 March showed that CPI inflation was 1.4 per cent, down from 1.9 per cent in the previous quarter.
Over the 12 months to the March 2023 quarter, CPI rose by 7 per cent compared to a rise of 7.8 per cent over the 12 months to the December 2022 quarter, a 30-year high.
The most significant price rises were caused by medical and hospital services, tertiary education and household fuels.
The ABS said: “While prices continue to rise for most goods and services, these rises have moderated in the most recent quarter, resulting in lower annual inflation”.
The next statistics would be given on 26 July for the June quarter.
AUTHOR
Laura Dew
Recommended for you
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
L1 Capital, which is in talks to merge with Platinum Asset Management, has indicated it will be voting against a deal to convert a Platinum LIC into an ETF.
Evidentia Group has hired a head of quantitative investments who joins the investment firm and managed account provider from AMP.
Fidelity International has worked in tandem with Australian wealth manager Emanuel Whybourne & Loehr to launch an actively managed global equities strategy aimed at financial advisers.
