Inflation surges to 4.6 percent as fuel and electricity costs soar

Australia's inflation surged to 4.6 percent in March, well above the Reserve Bank's 2-3 percent target, prompting expectations of a rate hike Tuesday. Fuel costs jumped 33 percent and electricity climbed 25 percent, pressuring supermarkets and building suppliers to raise prices. Meanwhile, Sydney and Melbourne property prices fell 0.6 percent in March, signaling a potential housing market cooldown.

Summary by Glance · SBS News – Australia