Australian Consumer Price Inflation Slows in November, Core Numbers Down

In November, Australian consumer price inflation witnessed a notable decline, reaching a nearly two-year low, with core inflation also experiencing a sharp slowdown. The data, released by the Australian Bureau of Statistics, has reinforced expectations in the market that there might not be a need for further increases in interest rates.

According to the statistics, the monthly Consumer Price Index (CPI) in Australia rose at an annual pace of 4.3% in November. This marked a decrease from the 4.9% recorded in October and slightly below the market forecasts of 4.4%.

The trimmed mean, a closely monitored measure of core inflation, increased by an annual rate of 4.6%, showcasing a significant drop from the 5.3% reported in the previous month. Furthermore, the CPI, excluding volatile items and holiday travel, also demonstrated a slowdown, registering at 4.8%, compared to 5.1% in the preceding period.

These figures suggest a softening trend in inflationary pressures, aligning with the market’s anticipation that there might not be an immediate need for further adjustments in interest rates. The data will be closely monitored for its potential impact on economic policies and market dynamics in the coming months.

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