Jan 23 2013, 2:00am CST | by Luigi Lugmayr
Sydney, Jan 23 — The Australian consumer price index (CPI) rose 0.2 percent in the December quarter 2012, after a rise of 1.4 percent in the September quarter, the Australian Bureau of Statistics reported Wednesday.
The official CPI figure came in lower than expected, taking the annual inflation rate for 2012 to 2.2 percent, reported Xinhua.
Economists had forecast a rise of 0.5 percent in the December quarter and an annual rate of 2.5 percent.
The ABS said the most significant price rises in the December quarter 2012 were for domestic holiday travel and accommodation, automotive fuel and rents, while the most significant offsetting price falls were for vegetables, audio, visual and computing equipment and pharmaceutical products.
The Reserve Bank of Australia has a target range for annual inflation of 2 percent to 3 percent, and the latest figures will inform its interest rate decision Feb 5.
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at firstname.lastname@example.org. Luigi posts regularly on LuigiMe.com about his experience running I4U.
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