Australia's inflation rate remained steady in October, with rising prices for food, alcohol, cigarettes and recreational activities keeping it at 2.1 per cent annually.
Australia's inflation rate remained steady in October, with rising prices for food, alcohol, cigarettes and recreational activities keeping it at 2.1 per cent annually.
" remains the lowest annual inflation since July 2021," ABS head of prices statistics Michelle Marquardt noted. That is because this "trimmed mean" figure compiled by the ABS excluded the large disinflationary effect of electricity subsidies that brought down power bills, along with falling fuel prices.
"When prices for some items move by large amounts the trimmed mean can provide additional insights into how inflation is trending."While the annual rate of inflation held steady at 2.1 per cent in October, delving into the data shows there is still price shocks in some sectors of the market." driven by lower supply of avocados, berries, and vegetables like cucumber and broccoli," Ms Marquardt says.
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