US EditionPetrol Surge Drives Australian Inflation to 4.6%, Piling Pressure on Families
Annual inflation climbed to 4.6% as petrol prices surged 32.8%, and investors scaled back expectations of a Reserve Bank of Australia rate rise.
- On Wednesday, the Australian Bureau of Statistics released data showing the consumer price index rose 4.6 per cent over the 12 months to March, up from 3.7 per cent in February.
- Fuel costs rose 32.8 per cent in March, the highest monthly increase since 2017, reflecting the impact of the Middle East conflict on global petrol and diesel prices.
- While petrol drove March inflation, housing remains the biggest factor over the past year; electricity inflation fell from 37 per cent in February to 25.4 per cent last month.
- Investors wound back expectations for an interest rate rise at the Reserve Bank meeting next week, as the 4.6 per cent figure fell shy of the 4.8 per cent economists predicted.
- Underlying inflation measures showed 'moderate' growth of 0.3 per cent, with the RBA's preferred trimmed mean inflation remaining steady at 3.3 per cent, providing some relief amid rate-hike concerns.
18 Articles
18 Articles
Fuel crisis pushes inflation to 4.6 per cent
Inflation has begun to accelerate in Australia, as the impacts of the war in the Middle East surge through the economy. The latest figures are sparking renewed interest rate fears, as political parties fire up their pitches to voters.
Fuel Surge Drives Inflation to 4.6 Percent
Inflation rose to 4.6 percent in the year to March 2026 as Australians faced higher fuel prices amid conflict in the Middle East. Data from the Australian Bureau of Statistics (ABS) data, released on April 29, showed annual Consumer Price Index (CPI) inflation reached its highest level since September 2023. The monthly CPI rose 1.1 percent in March, driven largely by a sharp 32.8 percent surge in automotive fuel prices. The average price for reg…
Sydney Morning Herald
Chalmers warns inflation will only get worse after prices hit three-year high
Inflation hit 4.6 per cent in March, intensifying pressure on the Reserve Bank to inflict a third consecutive rate rise on mortgage holders on Tuesday next week.
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