Inflation is accelerating globally, and even in Australia, the rate of price increase from January to March reached 5.1%, the highest growth rate in about 21 years.
In financial markets, there is growing belief that central banks will soon raise rates to curb inflation.
The Consumer Price Index between January and March, released by the Australian Census Bureau, rose 5.1% compared to the same period last year.
In addition to soaring real estate prices, fuel prices for automobiles have risen against the backdrop of high crude oil prices, resulting in the highest growth rate in about 21 years since April to June 2001.
In addition, the price index, which is emphasized by the central bank, excluding items with high volatility, also increased by 3.7% compared to the same period of the previous year, the highest growth rate in 13 years.
In financial markets, there is growing belief that Australia's central bank will soon raise rates to curb inflation.
As global inflation accelerates, the US Federal Reserve will consider raising rates by 0.5%, double the usual rate, at a meeting next month, and the Central Bank of Europe will raise rates later this year. The movement toward monetary tightening by the world's central banks is intensifying, and the difference in direction from the Bank of Japan, which is showing a willingness to continue large-scale monetary easing, is becoming clear.