Figures released this morning, Wednesday, November 26, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose to 3.8% in October on an annual basis, the highest level since April 2024. This compares to 3.6% in September and exceeded expectations of a 3.6% increase. The index remained unchanged compared to September’s reading on a monthly basis.

Meanwhile, core inflation, which excludes volatile items such as motor fuel, fruit and vegetables, and travel, rose to 3.3% in October, compared to 3.2% in September.

The most significant increase in the index in September came from the housing sector, which rose 5.9% from 5.6%. The food and non-alcoholic beverages index rose 3.2% from 3.1%, and the recreation and culture sector also rose 3.2%. Transport prices increased by 4%, and clothing and footwear prices rose 6.4% from 5.4%.