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Data Alert: Australia’s inflation and business costs remain stable amid continued economic growth

3 April 2012

The Australian economy continues to perform solidly, with the IMF forecasting real GDP growth of 3 per cent for 2012. At the same time the country’s inflation and general business costs remain stable, with CPI and producer price rises over the three past years in line with or below OECD average. Looking forward, Australia’s central bank, the RBA in its latest Minutes of the Monetary Policy Meeting, has indicated that Australia’s price pressures will remain moderate and stated “inflation in underlying terms was around the midpoint of the target range and was expected to remain within the target range over the forecast horizon.”

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