Australia’s November CPI Rises 4.3%, Under Market Forecasts

Summary

  • The Australian Bureau of Statistics reported that the monthly consumer price index (CPI) increased at a yearly rate of 4.3% in November, down from 4.9% in October and below the anticipated market forecast of 4.4%.
  • A core inflation measure – the trimmed mean, surged annually by 4.6%, drastically lower from November’s 5.3%.
  • The CPI that excludes holiday travel and fluctuating elements decelerated to 4.8%, from 5.1% in the past.

All about the Recent CPI Data and Inflation Measures

The latest data obtained from the Australian Bureau of Statistics presented a picture on Wednesday. It highlighted that the monthly consumer price index (CPI) experienced a year-over-year increase of 4.3% in November. This growth rate was a decline from October’s 4.9% and was less than the predicted market forecasts of 4.4%.

Core Inflation and CPI Adjustments

Significant attention is also bestowed to the trimmed mean, reflecting core inflation. It was observed to grow annually by 4.6%, marking a stark decline from the previous 5.3% figure noted in November. Furthermore, the CPI that leaves out holiday travel and unstable items showed a slowdown. It decreased to 4.8%, marking a reduction from the previous 5.1%.

Changes in these inflation indicators and consumer price index (CPI) figures are likely to have significant implications for forex trading and other financial assets, dictating how these markets might respond.

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