Australia’s Growth and Inflation to Rise in 2012, Deloitte Says

Australia’s economy will accelerate this year as resource investment drives growth, lifting core inflation to the middle of the central bank’s 2 percent to 3 percent target range, Deloitte Access Economics said.

Gross domestic product will expand 3.6 percent in 2012 from an estimated 2 percent growth last year, the Canberra-based research company said in a report released today. Underlying inflation, which excludes the most volatile components, is estimated at 2.5 percent this year compared with 1.8 percent last year, Access said.