Australian inflation hits 20-year high ...Middle East

SYDNEY: Australia’s annual inflation rate hit 5.1 percent in the March quarter, the highest recorded since 2001, according to official data released on Wednesday.The jump in consumer prices -- driven by fuel and housing costs -- was even higher than analyst expectations and has increased speculation that Australia’s central bank may raise interest rates as early as next week.It would be a bold move for the avowedly apolitical Reserve Bank of Australia, which would not want to be seen to be affecting the country’s current election campaign. The last time the RBA raised rates during an election period was in 2007.Pressure is rising, however, after the United States, New Zealand and Canada incr

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Australian inflation hits 20-year high ...Middle East

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