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Australia's economic rebounds lead to renewed inflation pressures

Updated:2010-04-28 14:42:16

Australia's rapid economic recovery has resulted in renewed inflation pressures, which may force the Reserve Bank to raise the cash rate again next week, Australian Associated Press reported on Wednesday.

The March quarter consumer price index (CPI), released on Wednesday, showed prices grew by a larger than expected 0.9 percent, lifting the annual rate to 2.9 percent.

This was at the upper end of the Reserve Bank's two to three percent inflation target band.

Economists' forecasts for CPI had centered on a 0.8 percent rise in the March quarter, for an annual pace of 2.8 percent.

The more policy-sensitive measures of inflation, the trimmed- mean CPI and the weighted median CPI, has rose by an average 0.8 percent for an annual rate of 3.05 percent.

Economists had expected an average rise of 0.7 percent in the March quarter, for an annual pace of 3.0 percent.

 

 

 

Source:http://news.xinhuanet.com

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