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The headline inflation rate slowed in the first quarter of 2009 but the RBA’s preferred measurement, which excludes volatile items, continued to rise.
Headline inflation slowed from 3.7 to 2.5 per cent in the March quarter, the ABS said, but the underlying rate which omits volatile items such as fuel increased by 1.2 per cent – bringing the annual rate to 4.15 per cent.
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The most significant price increases in the quarter were pharmaceuticals (up 13 per cent) and secondary education fees (up 7.6 per cent).
The cost of renting also increased by 1.7 per cent, bringing the annual increase in rents to 8.4 per cent.
