Australian Inflation Eases, Boosting Case for Rate Pause

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Australia’s monthly inflation gauge moderated for a second straight month in November, in a welcome outcome that bolsters the case for the Reserve Bank to leave interest rates unchanged next month.

Bloomberg News

Swati Pandey

Published Jan 09, 2024 • 2 minute read

Pedestrians walk past a window display in Sydney, Australia, on Wednesday, Nov. 22, 2023. Australia’s remaining inflation challenge is “increasingly homegrown and demand driven” compared with earlier supply-side disruptions, with implications for policy, Reserve Bank Governor Michele Bullock said. Photographer: Brendon Thorne/Bloomberg Photo by Brendon Thorne /Bloomberg

(Bloomberg) — Australia’s monthly inflation gauge moderated for a second straight month in November, in a welcome outcome that bolsters the case for the Reserve Bank to leave interest rates unchanged next month.

The consumer price indicator rose 4.3% from a year earlier, lower than economists’ estimate of 4.4% and the smallest annual increase since January 2022, Australian Bureau of Statistics data showed Wednesday. When excluding volatile items such as fuel, fruit and vegetables and holiday travel, the annual rise was 4.8%, lower than October’s 5.1%.

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Bloomberg News

2024-01-09 20:29:18

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