Kathmandu. Australia’s inflation has fallen to a two-year high as fuel prices soared due to the conflict in the Middle East. According to data released by the Australian Bureau of Statistics(ABS), inflation stood at 4.6 per cent in March. 

According to the official report of the AB S, the consumer price index (CPI) increased from 3.7 percent in March to 4.6 percent. This is the highest annual headline inflation rate since September 2023. 

According to the data, the main reason for the increase in monthly inflation is the increase in the price of auto fuel.In the period from February to March, the price of fuel has increased by 32.8 percent. The average price of petrol has increased by 33 per cent and the price of diesel has increased by 41 per cent, according to ABS . 

ABS’s Head of Price Statistics Su-Allen According to Luke’s , this is the largest monthly increase seen in fuel prices since 2017 when the data was compiled. She said the increase reflected the direct impact of the ongoing conflict in the Middle East. 

Apart from fuel, prices have also increased in other sectors.According to the of the ABS, the cost of housing has increased by 6.5 per cent compared to the previous year, while the price of electricity has increased by 25.4 with the termination of the government subsidy (rebat) schemes.