Australia: Inflation rises in January from December
Latest reading: Consumer prices were up 3.8% on a year-on-year basis in January, following a 3.7% rise in the prior month and above the Central Bank’s target of 2.0–3.0%.
Relative to the previous month’s figures, there were higher price pressures for clothing (+5.3% in annual terms vs +3.5% in December) and housing (+6.7% vs +5.6% in December). In contrast, price pressures reduced for transportation in January (+1.1% vs +1.7% in December).
Lastly, consumer prices rose 0.36% in January on a month-on-month basis, following a 0.96% rise in the previous month.