Inflation has come in higher than expected during the March quarter, dampening expectations of interest rate cuts by the later in the year.
Inflation has come in higher than expected during the March quarter, dampening expectations of interest rate cuts later in the year.
Economists had expected inflation to increase by 0.8 per cent in the March quarter, and by 3.5 per cent annually. "While prices continued to rise for most goods and services, annual CPI inflation was down from 4.1 per cent last quarter and has fallen from the peak of 7.8 per cent in December 2022," she said.
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