Australian CPI Increases 0.6% In The March Quarter 2014, Rises 2.9% Through The Year

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%).

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.