
Audio By Carbonatix
Australia's consumer prices rose more than forecast in the second quarter as high cost of food and fuel put pressure on inflation.Prices rose by 3.6% in the three months to the end of June from the same period last year, latest data showed.Food prices in the country have been rising in the aftermath of the devastation caused by floods and cyclones earlier this year.Analysts said the data may force the central bank to raise interest rates."It's a nasty looking number," said Michael Blythe of Commonwealth Bank of Australia."It suggests the direction of the next rate move is going to be up, even if there is some uncertainty about when the Reserve Bank might pull the trigger," he added.Source: BBC
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
We are focused on engineering low interest rate regime – BoG Governor assures
15 seconds -
How Sporting hero Gyokeres could end European run
7 minutes -
The attack on Ghanaian traders in Burkina Faso and the blame game: Why Hybrid Security Governance Holds the Key (II)
7 minutes -
Bayern face waiting game on ‘very special’ Kane
16 minutes -
The Problem with Nutrition Advice on Social Media – Lessons from a study among University Students
24 minutes -
Arteta calls for perspective as Arsenal look to avoid slump
32 minutes -
Kasoa Old Market traders given final eviction notice ahead of redevelopment
36 minutes -
GH¢15 sachet water price is a ceiling, not fixed – Producers clarify
40 minutes -
Morocco reports 7% rise in first-quarter tourist arrivals
42 minutes -
Calm returns to Adjen Kotoku Market following onion traders’ clash
43 minutes -
One dead, six in critical condition in Gomoa Fetteh accident
45 minutes -
GNFS responds to multi-vehicle crash at Ayi Mensah, urges caution
49 minutes -
Kaneshie footbridge closure raises safety concerns as pedestrians demand urgent repairs
52 minutes -
Clock ticks on Trump’s Iran ultimatum with little sign of breakthrough
53 minutes -
Be value creators for national development – KGL boss challenges private sector
60 minutes