Inflation nowrising at a faster rate in Australia

Price rises in Australia outstripped those in New Zealand in the first three months of this year, figures from Australia’s Bureau of Statistics show. Annual inflation in the year to the March quarter is still higher in New Zealand, at 6.9%, than in Australia (5.1%). But the countries’ latest figures showprice rises in Australia overtook those in Newzealand in the first three months of this year, with quarter-on-quarter inflation hitting 2.1% in Australia and 1.8% here. Annual inflation in Australiawas up from 3.5% in the December quarter and ahead of market expectations, whereas the jump in inflation from 5.9% to 6.9% in the most recent quarter in New Zealandwas a little belowmarket forecasts.