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Financial News: Australia Q1 Inflation +0.6% On Quarter, +1.1% On

Australia Q1 Inflation +0.6% On Quarter, +1.1% On Year

04/27/2021 - 21:40:00 (RTTNews)

(RTTNews) - Consumer prices in Australia were up 0.6 percent on quarter in the first quarter of 2021, the Australian Bureau of Statistics said on Wednesday.

That was shy of expectations for 0.9 percent, which would have been unchanged from the three months prior.

On a yearly basis, inflation gained 1.1 percent - also missing forecasts for 1.4 percent but still up from 0.9 percent in the previous three months.

The Reserve Bank of Australia's trimmed mean was up 0.3 percent on quarter and 1.1 percent on year - slowing from 0.4 percent on quarter and 1.2 percent on year in the previous quarter.

The RBA's weighted mean rose 0.4 percent on quarter and 1.3 percent on year, slowing from 0.5 percent on quarter and 1.4 percent on year in the previous three months.

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