1/28/2009

The Australian Bureau of Statistics said the nation's consumer-price index fell by 0.3% in the last quarter of 2008 from an increase of 1.2% the previous quarter, marking the sharpest quarterly drop in inflation in 11 years. Analysts expect the data to persuade the Reserve Bank of Australia to cut interest rates to stimulate the economy, now that inflation is no longer a concern.

Related Summaries