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HONG KONG (MarketWatch) -- Australia's inflation rate accelerated at a faster-than-expected 1.5% in the April-June period over the previous quarter, according to official data released Wednesday, hurting expectations the central bank may ease policy rates. On an year-on-year basis, the quarter's consumer price index increased 4.5%. A Reuters survey had estimated CPI to rise 1.2% over the previous quarter and 4.3% over the same quarter a year earlier. Cost of financial and insurance services soared 3.8% from the January-March period, while transportation and clothing expenses also jumped more than 3% on-quarter, boosting inflation.