Australian Inflation Eases, Boosting Case for Rate Pause
- November’s annual increase is the smallest since Jan. 2022
- Housing, food, insurance were among top inflation contributors
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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.
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%.