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Australia Inflation Jumps 5.1% On Year In Q1

Consumer prices in Australia climbed 5.1 percent on year in the first quarter of 2022, the Australian Bureau of Statistics said on Wednesday - beating forecasts for an increase of 4.6 percent and accelerating from 3.5 percent in the previous three months.

On a quarterly basis, inflation jumped 2.1 percent - again exceeding expectations for a gain of 1.7 percent and up from 1.3 percent in the three months prior.

The Reserve Bank of Australia's trimmed mean came in at 1.4 percent on quarter and 3.7 percent on year, up from 1.0 percent on quarter and 2.6 percent on year in the previous quarter.

The RBA's weighted median was up 1.0 percent on quarter and 3.2 percent on year after rising 0.9 percent on quarter and 2.7 percent on year three months earlier.

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