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Australia core inflation hits 3.4 percent in April, Mohamed A. El-Erian notes

Australia core inflation hits 3.4 percent in April, Mohamed A. El-Erian notes
Australia core inflation at 3.4 percent

Mohamed A. El-Erian, president at Queens' College, University of Cambridge, reports that Australia's core inflation was 0.3% in April, pushing the annual rate to 3.4%.

He adds that this data reinforces the expectation that inflation in Australia will stay higher for a longer period. In neighboring New Zealand, the central bank kept interest rates unchanged but signaled possible future increases due to ongoing inflation concerns.

El-Erian recently cautioned that the economic fallout from the war may extend beyond energy and price shocks to widespread demand destruction. He has also pointed to shifting market attention to U.S. PPI data after the release of April CPI figures. His latest comments on Australia and New Zealand come as inflation concerns remain prominent in global economic discussions.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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