Figures released this morning, Wednesday, January 28, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose to 3.8% year-on-year in December, the highest level since April 2024. This compares to 3.4% in November and exceeded expectations of 3.5%. The index rose by 1% month-on-month.

The most significant increase in the index in September came from the housing sector, which rose by 5.5% from 5.2% in November. Electricity prices also saw a significant increase of 21.5% from 19.7% in November. The food and non-alcoholic beverages index rose by 3.4% from 3.3% in November, while the recreation and culture sector increased by 4.4%. Clothing and footwear prices also rose by 3.4%.