Australian EconomyAustralian interest rates

Aussie CPI inflation soars, smashes expectations

Leith van Onselen
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The ABS has just released CPI data for the March quarter, with headline inflation surging by 2.1% over the quarter and by 5.1% year-on-year:

Aussie CPI

Soaring petrol prices (Transport) drove the rise:

CPI breakdown

Trimmed mean annual inflation, which excludes large price rises and falls, increased to 3.7% – the highest since March 2009:

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Underlying inflation

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.