Aussie Inflation May Fizzle as Commodity Boom Loses Steam: ChartBy
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Wednesday’s data on Australian inflation may disappoint those looking for some economic momentum Down Under, as the drop-off in commodity-price growth looms large for the export-dependent nation. As Bloomberg Intelligence’s Tamara Henderson notes, annual CPI in Australia tracks well with the central bank’s index covering price changes in the country’s biggest raw materials exports. The consensus forecast from economists surveyed by Bloomberg News is that inflation accelerated to 2.2 percent last quarter, from 2.1 percent in the prior period.