{"id":106401,"date":"2026-04-29T01:57:36","date_gmt":"2026-04-29T01:57:36","guid":{"rendered":"https:\/\/christiancorner.us\/index.php\/2026\/04\/29\/australia-reports-first-quarter-inflation-lower-than-expected-but-prices-rise-the-most-in-2-years\/"},"modified":"2026-04-29T01:58:40","modified_gmt":"2026-04-29T01:58:40","slug":"australia-reports-first-quarter-inflation-lower-than-expected-but-prices-rise-the-most-in-2-years","status":"publish","type":"post","link":"https:\/\/christiancorner.us\/index.php\/2026\/04\/29\/australia-reports-first-quarter-inflation-lower-than-expected-but-prices-rise-the-most-in-2-years\/","title":{"rendered":"Australia reports first-quarter inflation lower than expected \u2013 but prices rise the most in 2 years"},"content":{"rendered":"

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SYDNEY, AUSTRALIA – DECEMBER 06: Pedestrians and shoppers walk on George Street on December 06, 2024 in Sydney, Australia. <\/p>\n

Lisa Marie Williams | Getty Images News | getty images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Australia’s inflation rate rose to 4.09% in the first quarter, its highest level in more than two years.<\/p>\n

The first-quarter inflation figure was less than the 4.2% expected by economists polled by Reuters, but it still raised prospects of an interest rate hike by the Reserve Bank of Australia. <\/p>\n

The data also comes ahead of the Reserve Bank of Australia’s policy meeting next week. The central bank raised rates at its March meeting to 4.1%, the highest level since April 2025. <\/p>\n

“Growth in the Middle East remains highly uncertain, but global and domestic inflation could rise under a wide range of possible scenarios,” the RBA said. after the march meeting<\/a>.<\/p>\n

The board said it expects inflation to remain above its 2%-3% target for some time.<\/p>\n

RBA Governor Michelle Bullock said board members agreed that further rate rises may be needed, although they differ on timing.<\/p>\n

Minutes of the meeting revealed that policymakers considered inflation still “very high” and said Increase may be required in the near term<\/a>.<\/p>\n

“Rising oil prices have further increased the risk that inflation will remain above target for a prolonged period,” the statement said. <\/p>\n

Australia’s economy grew 2.6% in the fourth quarter from a year earlier, its fastest pace in two years, beating expectations.<\/p>\n

This is breaking news, please check back for updates.<\/strong><\/em><\/p>\n<\/div>\n

Choose CNBC as your favorite source on Google and never miss a moment of the most trusted name in business news.<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

SYDNEY, AUSTRALIA – DECEMBER 06: Pedestrians and shoppers walk on George Street on December 06, 2024 in Sydney, Australia. Lisa Marie Williams | Getty Images News | getty images Australia’s inflation rate rose to 4.09% in the first quarter, its highest level in more than two years. The first-quarter inflation figure was less than the<\/p>\n","protected":false},"author":1,"featured_media":106402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[56],"tags":[5322,565,26578,2408,72,1739,416,1031],"class_list":{"0":"post-106401","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bible-news","8":"tag-australia","9":"tag-expected","10":"tag-firstquarter","11":"tag-inflation","12":"tag-prices","13":"tag-reports","14":"tag-rise","15":"tag-years"},"_links":{"self":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/106401","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/comments?post=106401"}],"version-history":[{"count":1,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/106401\/revisions"}],"predecessor-version":[{"id":106403,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/posts\/106401\/revisions\/106403"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media\/106402"}],"wp:attachment":[{"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/media?parent=106401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/categories?post=106401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/christiancorner.us\/index.php\/wp-json\/wp\/v2\/tags?post=106401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}