Australia: Inflation rises in October from the prior month
Latest reading: Consumer prices increased 3.8% in annual terms in October, following a 3.6% increase in the previous month. October’s reading was the strongest since May 2024. Moreover, the reading was above market expectations and the Central Bank’s target of 2–3%. Housing, food and recreation and culture were key upward price drivers in October.
Finally, consumer prices fell 0.01% in October in monthly terms, following a 0.45% rise in the prior month.