Business
Inflation set for worst quarter on record – The Australian Financial Review
Economists are bracing for the worst number they’ve ever seen, with low fuel prices and the childcare subsidy likely to threaten deflation in Australia’s economy.
RBC Capital Markets chief economist Su-Lin Ong Alex Ellinghausen
Capital Economics agreed a combination of lower fuel prices and free childcare was likely to have dragged inflation firmly into negative territory in the second quarter, forecasting a contraction of 1.8 per cent.
“Retail petrol prices ended the quarter around the same price they started. However, because of the deep declines at the end of Q1 and at the start of Q2, the average price in Q2 was nearly 20 per cent lower than the av…
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