Australian consumer inflation rises 4.2% in Q1

04/23/2008 | Bloomberg

Australia saw consumer prices rise 4.2% in the first quarter from a year earlier on higher fuel and food prices. Prices gained 0.9% in the last quarter of 2007. The inflation has driven the nation's currency to its highest level against the U.S. dollar since 1984 on speculation the central bank may raise interest rates next month.

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