(RTTNews) - Consumer prices in Australia increased by 0.1 percent in the first quarter of 2009 compared to their level in the fourth quarter of 2008.

The Australian Bureau of Statistics reported Wednesday that the consumer price index for Q1 was 2.5 percent higher than its level of one year earlier.

The figures were lower than the predictions of most economists, who expected quarterly CPI to rise 0.5 percent and annual CPI to increase 2.8 percent.

The bureau said the most significant price hikes were in pharmaceuticals, which rose 13 percent, while declines were seen in deposit and loan facilities and auto fuels and domestic holiday travel and accommodations.

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Posted in Categories: Australia, Economy, Releases.

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