Australia's inflation rate decreased to 4.1% in Dec '23, marking the 4th consecutive decrease, mainly due to lower prices for clothing, appliances, furniture, and fruits.

Australia's inflation rate has reached a two-year low of 4.1% in the December quarter of 2023. This marks the fourth consecutive decrease, exceeding market expectations. The decline in inflation has been attributed to falling prices for clothing, household appliances, furniture, and fruit and vegetables. While the inflation rate is still above the Reserve Bank of Australia's target range of 2-3%, some economists predict that it may take longer to return to this range.

January 30, 2024
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