Australia sees controlled inflation
2010-11-22 12:01:24
Australian third quarter consumer price index gained 2.8 percent year on year, and just 7 tenths of a percent higher compared with the previous quarter. Local residents say they haven't noticed higher prices.
Analysts say it's thanks to the central bank's raising of interest rates several times this year and that's partly in an effort to avoid inflationary pressures caused by the US Fed's second round of stimulus.
The bank's governor predicts inflation may fall to 2 and a half percent in the fourth quarter, but raise again in the future.