Inflation increases year-on-year to 6.8 per cent

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The nation’s inflation rate has increased over the past year owing to the rising price of fuel and cost of construction, the Australian Bureau of Statistics has revealed.

Data released by the Australian Bureau of Statistics on Thursday shows a minor decrease yearly to the month of July which was seven per cent.

“The largest contributors, in the 12 months to August, were new dwelling construction, up 20.7 per cent and automotive fuel, up 15 per cent,” he said. The September monthly data will be released on October 26 – a day after Treasurer Jim Chalmers hands down his first budget.

 

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