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Australia's annual inflation rate jumped to 4.6% in March 2026, driven by a record 32.8% surge in fuel prices following the closure of the Strait of Hormuz. Markets now expect a 76% chance of an RBA rate hike in May.
The S&P/ASX 200 index has recorded its tenth consecutive day of decline, closing at 8,652.1 points as Australia's inflation rate surged to 4.6% in March. The prolonged downturn, driven by energy supply shocks and RBA rate hike fears, marks the longest losing streak for the index since mid-2022.
Shares in Domino’s and Collins Foods have seen sharp declines as Australian inflation hits 4.6% and high interest rates squeeze household budgets, forcing a pullback in discretionary spending.
While national home values rose 0.6% in March 2026, Sydney and Melbourne house prices have entered a quarterly decline as Perth surges 5.7% to record highs.
The Reserve Bank of New Zealand held the OCR at 2.25% in April 2026 as annual inflation remained stuck at 3.1%. Rising electricity and fuel costs, exacerbated by Middle East tensions, have prompted a sharp upward revision of short-term inflation forecasts.
New Zealand's annual inflation rate remained at 3.1% in the March 2026 quarter, exceeding the RBNZ’s target band and market expectations. Rising electricity and local rates continue to drive domestic costs.
Woolworths Group reported Q3 sales of A$18.10 billion, beating expectations, but shares dropped nearly 10% as the company warned that rising fuel costs and geopolitical tensions will impact profit margins.