The latest data on Australia's Consumer Price Index (CPI) reveals that the weighted mean CPI has risen to 1.1% in the first quarter of 2024. This marks an increase from the previous quarter's figure of 0.9%, indicating a modest uptick in inflation. The comparison period, which is quarter-over-quarter, reflects the change from the previous quarter to the current one.
The update, released on 24th April 2024, shows that inflation has slightly accelerated in Australia, suggesting a potential impact on the country's economy and consumers. The CPI is a crucial indicator that measures the average change in prices paid by consumers for goods and services over time. The recent increase in the weighted mean CPI could influence various economic decisions and policies in Australia as policymakers monitor inflation trends closely.
