Will Aussies compare credit cards as inflation rises?

Tuesday 01 March 2011

Article by Mozo

A number of Aussies could be encouraged to compare credit cards online following the publication of a report pointing to increased living costs.

Inflation on the rise, report shows

According to the TD Securities-Melbourne Institute inflation gauge, prices increased by 0.2 per cent last month.

Despite comparing with a 0.4 per cent rise in the previous month, the increase is above the target band of the RBA.

The report said the higher prices can be attributed in part to the impact of the recent floods seen in the country.

Annette Beacher, TD Securities head of Asia-Pacific research, told the Australian Associated Press: "The inflation gauge continued to show a gentle climb in overall inflation. However, as prices have increased for 16 consecutive months now, our annual inflation rate has printed above three per cent since September last year.

"While we will publish our March quarter CPI forecasts with the March Inflation Gauge report, the signal from our Inflation Gauge so far is that another reasonably benign inflation report is likely."

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