Live: Inflation likely to reach highest level since 2023, ASX to drop for seventh straight day
Inflation in Australia is expected to spike to 4.8% in the March quarter, the highest level since 2023, driven by rising fuel prices amid the Iran conflict. The Reserve Bank is likely to raise interest rates next week, with markets pricing in an 80% chance of a hike. The ASX is on track to fall for a seventh consecutive day, reflecting ongoing investor concerns. Global oil markets are also reacting to the UAE's decision to leave OPEC, adding to energy sector volatility.
- ▪The Australian Bureau of Statistics is expected to report 4.8% inflation for the March quarter, up from 3.7% in December and the highest since September 2023.
- ▪Around one-third of the inflation increase is attributed to higher fuel prices caused by the Iran war.
- ▪Markets are pricing in an 80% probability that the Reserve Bank will raise interest rates at its upcoming meeting.
- ▪The ASX 200 has fallen 2.7% since April 21 and is poised for a seventh straight day of losses.
- ▪The United Arab Emirates has announced it is leaving OPEC, marking a significant shift in global oil politics and raising concerns about OPEC's stability.
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liveMarkets live: Inflation likely to reach highest level since 2023, ASX to drop for seventh straight dayby business reporter David ChauTopic:Financial Markets23m ago23 minutes agoTue 28 Apr 2026 at 9:54pmSkip to timelineabc.net.au/news/asx-markets-business-live-news/106619032Link copiedShareShare articleThe Australian Bureau of Statistics (ABS) is set to release data that is likely to show inflation spiking at about 4.8 per cent in the March quarter, its highest level in two and a half years.The Reserve Bank is widely expected to lift interest rates again next week, with markets pricing in a roughly 80 per cent chance that the RBA will increase borrowing costs.Meanwhile, the Australian share market is on track to open lower for its seventh consecutive day.See how the trading day unfolds…
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