Canberra, March 25 (IANS) Australia’s annual rate of inflation fell to 3.7 per cent in February, defying the expectation of economists who had forecast it would remain at 3.8 per cent.According to official data released by the Australian Bureau of Statistics (ABS) on Wednesday, the consumer price index (CPI) rose by 3.7 per cent in the year to February, down from the 3.8 per cent reported in December and January.The Australian Broadcasting Corporation reported earlier on Wednesday that financial…
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Melbourne, March 24 (IANS) As Australia sits at the far end of the regional fuel supply chain, it may face a fuel supply “crunch time” in the coming weeks, according to local media reports, citing the conflict in the Middle East that has driven up international energy prices and exposed Australia’s heavy structural dependence on imported fuel.The Australian Broadcasting Corporation (ABC) reported that Australia now has only two domestic refineries still operating, while more than 80 per cent of …
Canberra, Feb 19 (IANS) Australia’s unemployment rate remained steady at 4.1 per cent in January, according to official data released on Thursday. The latest monthly labour force data from the Australian Bureau of Statistics (ABS) showed that the number of Australians employed on a full-time basis increased by 50,500 between December and January, which was partially offset by a fall in part-time employment of 32,700 people, Xinhua News Agency reported.The official unemployment rate remained at 4…