Inflation in the 12 months to November fell to 4.3 per cent from 4.9 per cent in October, a better than expected result ahead of the Reserve Bank ’s first interest rate decision next month. Price increases have continued to ease, coming in at the lowest rate since January 2022. The market consensus had been for inflation to slow to 4.4 per cent through the year to November.which dropped 0.5 per cent in November as crude oil prices reached a five-month low.
Over the 12 months to November, fuel prices rose 2.3 per cent, lower than the annual increase of 8.6 per cent in October. The latest figures released by the Australian Bureau of Statistics will be welcomed by the Albanese government, which is under pressure to demonstrate that it can tackle rising costs. Treasurer Jim Chalmers, speaking at a press conference in Cairns, said inflation was still the defining challenge in the Australian economy and “higher than we would like it to be”, but that the latest numbers were welcome. “ are encouraging,” he sai
Source: Loan Digest (loandigest.net)
Inflation Australia Reserve Bank Interest Rate Price Increases Fuel Prices Albanese Government Rising Costs
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