Prices in Australia fell for the first time in 23 years

Цены в Австралии снизились впервые за 23 года

Photo: AP

Compared to the previous quarter, the decline in consumer prices in the second quarter amounted to 1.9%

Deflation is recorded for the first time since the third quarter of 1997. According to experts, this is due to the negative impact of coronavirus quarantine.

Consumer prices in Australia in the second quarter of 2020 decreased by 0.3% compared to the same period of 2019. This was reported by the Australian Bureau of Statistics.

The price of transport decreased by 7.5%, the decline marked the first time since the fourth quarter of 2016. Gasoline prices fell by 19%, education — by 1%. The prices of food and non-alcoholic beverages increased by 0.5%.

Thus, for the first time since the third quarter of 1997, the country recorded deflation. According to experts, this is due to the negative impact of coronavirus quarantine.

Compared to the previous quarter, the decline in consumer prices in the second quarter amounted to 1.9%. This is the highest figure in 72 years of records ABS.

The most significant impact on deflation rendered the decision of the authorities of Australia from April 6 to make a free kindergarten work — as one of the measures to counteract the effects of the epidemic of the coronavirus to the economy.

In the first quarter consumer prices in Australia rose 2.2%.

As reported, due to repeated outbreaks of coronavirus, the border between the States of New South Wales and Victoria is closed for the first time in the last 100 years.

korrespondent.net