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This year's economic growth figures are expected to be revised down again because of weaker-than-expected consumer demand. It's understood Treasury1 is now forecasting growth of just 2.25 per cent for the financial year. It's already been revised down a number of times because of the impact of the Queensland floods and the Japanese earthquake.
New figures from the European Union show inflation is rising at an alarming rate across the region. It's left analysts2 tipping a sharper rise in interest rates. The EU says inflation across the 17 countries jumped to 2.7 per cent in March. That's the highest level in 18 months and well above the European Central Bank's target of 2 per cent. The rise has mostly been driven by transport and housing costs.
Inflation is also up in the United States but no more than analysts were expecting. A new government report shows that the consumer price index increased 0.5 per cent in March, but it says underlying3 inflation pressures remain contained. Food and gas prices accounted for almost three quarters of the rise.
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1 treasury | |
n.宝库;国库,金库;文库 | |
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2 analysts | |
分析家,化验员( analyst的名词复数 ) | |
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3 underlying | |
adj.在下面的,含蓄的,潜在的 | |
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4 hovering | |
鸟( hover的现在分词 ); 靠近(某事物); (人)徘徊; 犹豫 | |
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