Stay up to date with what’s happened in the Australian economy and markets over the past month.
April brought a sharper edge to the economic outlook.
The Middle East crisis, inflation, volatile markets and fragile consumer confidence are continuing to weigh heavily on investors. Stocks rallied as hopes for a U.S.-Iran ceasefire grew, only to decline as the Strait of Hormuz remained largely closed. The ASX experienced a volatile month, after a strong mid-month rally became a prolonged losing streak.
Annual inflation surged to 4.6%, up from 3.7%, driven by a 32.8% monthly spike in fuel prices due to Middle East conflict. However, trimmed mean inflation, which is the RBA’s preferred measure of underlying inflation, remained steady at 3.3%.
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