Live: Inflation likely to reach highest level since 2023, ASX to drop for seventh straight day
Inflation in Australia rose to 4.6% in March 2026, the highest level since September 2023, driven in part by a 32.8% surge in petrol prices due to the Iran conflict. The ASX 200 declined for a seventh consecutive day, closing down 0.3% to 8,687 points, as markets anticipated a potential interest rate hike by the Reserve Bank. The Australian dollar remained flat at 71.66 US cents, while housing data revealed a growing mismatch between apartment prices and buyer affordability.
- ▪Inflation reached 4.6% in March 2026, the highest since September 2023, according to ABS data.
- ▪Petrol prices spiked 32.8% month-on-month, contributing significantly to the inflation increase.
- ▪The ASX 200 fell for a seventh straight day, closing at 8,687 points, down 0.3%.
- ▪Fifty-six percent of new apartment listings in Australia were priced at $1.5 million or more between February and March 2026.
- ▪The Reserve Bank is expected to consider raising interest rates at its upcoming May meeting in response to inflation pressures.
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Inflation surges to 4.6 per cent, the highest level since September 2023, ASX down again — as it happenedBy business reporters Jason Dasey, David Chau, Stephanie Chalmers, Gareth Hutchens, Daniel Ziffer and business editor Michael JandaTopic:Financial MarketsWed 29 Apr 2026 at 7:54amWed 29 Apr 2026 at 7:54amWed 29 Apr 2026 at 7:54amSkip to timelineabc.net.au/news/asx-markets-business-live-news/106619032Link copiedShareShare articleABS data has shown a rise in inflation to 4.6 per cent in March, the highest since September 2023, with a 32.8 per cent spike in petrol prices on the previous month amid the escalation of the Iran war.It increases expectations that the Reserve Bank will lift interest rates again next week when it holds its May meeting.The ASX 200 fell for a seventh consecutive…
Excerpt limited to ~120 words for fair-use compliance. The full article is at ABC News (Australia).