Australia’s Elevated Inflation Suggests RBA to Extend Pause
- Inflation accelerated for a second consecutive month in April
- Traders modestly lifted bets on a possible rate rise this year
Electricity prices rose 4.2% in the 12 months to April.
Photographer: Brendon Thorne/BloombergThis article is for subscribers only.
Australia’s inflation came in faster than expected in April, suggesting price pressures remain stubbornly strong and bolstering the case for the Reserve Bank to keep interest rates at a 12-year high next month.
The monthly consumer price indicator climbed 3.6% from a year earlier, exceeding economists’ estimate of 3.4%, government data showed Wednesday. The core measure, which strips out volatile items, held at 4.1%