November figures will give RBA some comfort that its interest rate hikes are working
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Australia’s inflation rate slowed in November, reinforcing expectations the Reserve Bank’s key interest rate has peaked.
The headline consumer price index for the month was 4.3%, down from October’s 4.9%. It shows prices were rising at their slowest pace since the 4.0% reported in January 2022, the Australian Bureau of Statistics said on Wednesday. Economists had forecast November’s CPI to be 4.4%.
Continue reading…November figures will give RBA some comfort that its interest rate hikes are workingFollow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s inflation rate slowed in November, reinforcing expectations the Reserve Bank’s key interest rate has peaked.The headline consumer price index for the month was 4.3%, down from October’s 4.9%. It shows prices were rising at their slowest pace since the 4.0% reported in January 2022, the Australian Bureau of Statistics said on Wednesday. Economists had forecast November’s CPI to be 4.4%.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…