Inflation data to cement RBA rate rise next week
The inflation data to be published on Wednesday is expected to show a 4.8% rise in headline inflation over the 12 months to March, likely prompting the Reserve Bank of Australia to raise interest rates next week. This data will capture the early effects of the Middle East war on the Australian economy.
The inflation data for Australia will be released on Wednesday, showing the early effects of the Middle East war on the economy. Economists expect headline inflation to have risen 4.8% over the 12 months to March, the fastest rate since September 2023. This follows a spike in energy prices after Russia's invasion of Ukraine and persistent services inflation. The data is likely to prompt the Reserve Bank of Australia to raise interest rates when it meets next week. The inflation rate has been a concern for the Australian economy, with the latest data indicating continued price growth.
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