Australian Monthly CPI Indicator:
On Wednesday, Australian inflation numbers for November merited investor attention. Following retail sales numbers from Tuesday, sticky inflation could delay RBA discussions about rate cuts and leave a rate hike on the table.
However, the annual inflation rate softened from 4.9% to 4.3%. Economists forecast an inflation rate of 4.4%.
According to the ABS,
- The largest contributions to inflation came from housing and food and non-alcoholic beverages.
- Housing prices were up 6.6%, with food and non-alcoholic beverage prices rising by 4.6%.
- Alcohol and tobacco (+6.4%) and insurance and financial services (+8.8%) also contributed to the annual inflation rate.
Housing:…
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