The inflation report to be released on April 23 is likely to indicate inflation rising at its greatest rate for 17 years, according to many analysts. Core inflation is expected to rise .9% for the quarter which would result in an annual inflation figure of 3.9%; markedly higher than the 2-3% range which the RBA try to maintain. However, with other recent data indicating consumer demand beginning to wane, the RBA is still unlikely to increase interest rates at their next meeting in May.

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