Australia inflation slows to 4.3% in Nov, core down sharply
Reuters
Published Jan 09, 2024 07:40PM ET
Updated Jan 09, 2024 08:50PM ET
SYDNEY (Reuters) - Australian consumer price inflation dropped to a near two-year low in November and core inflation also slowed sharply, a soft result that reinforced market expectations interest rates would not need to rise any further.
Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose at an annual pace of 4.3% in November, down from 4.9% in October and under market forecasts of 4.4%.
A closely watched measure of core inflation, the trimmed mean, rose an annual 4.6%, down sharply from 5.3% in November. The CPI excluding volatile items and holiday travel slowed to 4.8%, from 5.1%.
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Written By: Reuters
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