Australia News

Australia’s Monthly Inflation Rises to 4 Percent in May

The latest inflation figures raised concerns among Australian businesses about further interest rate hikes in the coming months.
Australia’s Monthly Inflation Rises to 4 Percent in May
A variety of Australian dollar notes on display in Hong Kong, China, on Feb. 22 2004. Richard A. Brooks/AFP via Getty Images
Alfred Bui
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Australia’s monthly inflation rate has risen again in May, raising concerns about the possibility of another interest rate hike.

New data from the Australian Bureau of Statistics (ABS) showed that the monthly consumer price index (CPI) rose 4 percent in the year to May 2024, up from 3.6 percent in April.
Alfred Bui
Alfred Bui
Author
Alfred Bui is an Australian reporter based in Melbourne and focuses on local and business news. He is a former small business owner and has two master’s degrees in business and business law. Contact him at [email protected].