Australia’s Q1 inflation cools but remains elevated, keeping RBA hike bets alive
Australia's Q1 CPI rose 4.09% year-on-year and 1.4% quarter-on-quarter, cooler than the 4.2% forecast but the highest in over two years; March inflation climbed 4.6%, underscoring persistent price pressures and keeping the case for further RBA rate hikes on the table as officials say inflation will stay above the 2%–3% target for some time. GDP grew 2.6% year-on-year in Q4, with oil-price risks adding to policy challenges ahead of the next RBA meeting.