Australian CPI increased 0.6% in the March quarter, and 2.9% through the year.
That’s far below the market expectation of 3.2% year-on-year, and 0.8% for the quarter.
The Australian dollar was getting smashed, down 0.57% against the USD.
The most significant price rises this quarter were for tobacco (+6.7%), automotive fuel (+4.1%), secondary education (+6.0%), tertiary education (+4.3%), medical and hospital services (+1.9%) and pharmaceutical products (+6.1%).
These rises were partially offset by falls in furniture (-4.3%), maintenance and repair of motor vehicles (-3.3%), international holiday travel and accommodation (-2.4%) and domestic holiday travel and accommodation (-2.4%).