Business
Inflation suffers biggest quarterly drop in history: What it means for you – Yahoo Finance Australia
Low fuel prices and free childcare have brought CPI down significantly.
The consumer price index (CPI), which is the main indicator of Australias inflation rate, dropped 1.9 per cent over the June quarter – the biggest quarterly drop in the 72-year history of CPI.
This takes the annual inflation rate to -0.3 per cent in the year to June 2020. Its the third time annual inflation has been negative – the last time being in 1997.
The June quarterly fall was mainly the result of free childcare, a significant drop in the price of fuel and a fall in pre-school and primar…
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