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Growth worries hit Australia
Australia's inflation rate has fallen so low that the Treasurer is worried and the Reserve Bank is rethinking the economic outlook. Australia's quarterly rate came in at just 0.4 per cent in the March quarter. In the six months to March after the one-off jolt to prices from the introduction of the carbon tax, prices climbed just 0.6 per cent. Annualised, the six-month inflation rate is 1.2 per cent. The only substantial price increases in the March quarter were the usual jump in recorded pharmaceutical prices after each December's expiry of the Medicare Safety Net and the January rise in school fees. Even those ... (full story)
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