Figures issued in the Asian session today, Wednesday, from the Australian Institute of Statistics (ABS) showed that the consumer price index, which measures inflation in Australia, rose by 7.0% on a quarterly basis in the first quarter ending in March, compared to 7.8% in the fourth quarter of last year, down from its highest level in 30 years. While the annual index declined to 6.3% in March, compared to 6.8% in February, below expectations, which indicated a rise to 6.5%.

In the details, the prices of food and non-alcoholic beverages increased by 8.0% in the first quarter, while housing prices increased by 9.8%, and services prices increased by 6.1%, at the highest pace since 2001, as medical services rose by 4.2%, while gas and fuel prices increased by 14%. 3%.

Today’s numbers were supported by the Reserve Bank of Australia stopping tightening monetary policy at its next meeting on May 2, after expectations indicated a final interest rate hike by a quarter of a point, which put pressure on the Australian dollar during today’s session.