FX.co ★ Australia Consumer Prices Jump 1.0% In Q1

According to recent statistics released by the Australian Bureau of Statistics, consumer prices in Australia saw a seasonal adjustment, increasing by 1.0 percent in the first quarter of 2024. This figure surpassed the predicted 0.8 percent rise, marking a quicker pace from the preceding three months' 0.6 percent growth.

Significant contributors to the quarterly price inclines include rents that rose by 2.1 percent, secondary education costs that surged by 6.1 percent, tertiary education expenses which shot up by 6.5 percent, and prices for medical and hospital services that went up by 2.3 percent.

Examining the change on an annual basis, inflation ascended by 3.6 percent. This rate surpassed the forecasted rise of 3.4 percent, albeit recording a slower pace compared to the previous quarter's 4.1 percent.