Inflation in Australia rises more than expected

Australia’s inflation rose more than expected to 6.8% in April Australia’s headline inflation rose to 6.8% in April, beating economists’ expectations. The survey of 19 economists found estimates ranged from 5.9% to 6.6%. The country’s statistics bureau said the most significant price increases were in housing, up 8.9% year-on-year. This was followed by food and non-alcoholic drinks and transport, up 7.9% and 7.1% respectively.