Inflation accelerated through March as a series of floods and a category-five cyclone in Queensland continued to drive up prices for fruit and vegetables, according to the TD Securities-Melbourne Institute Monthly Inflation Gauge.
The TD-MI inflation gauge rose 0.6% in March, following a 0.2% increase in February and 0.4% rise in January.
Over the year to March, the inflation gauge rose by 3.8%. Aside from fruits and vegetables, automotive fuel, and alcohol and tobacco also added to the rise in inflation pressures. These were offset by small falls in household supplies and rents.