Q3 Australia inflation rate at 3.5-year low, CPI rises 0.2%, annual rate 2.8%, core inflation steady.

Australia's Q3 inflation rate fell to its lowest in 3.5 years, driven by government electricity rebates and lower gasoline prices, with the consumer price index rising just 0.2%. Annual inflation reached 2.8%, within the Reserve Bank's target range. However, core inflation remains steady, reflecting ongoing pressures in service prices, which rose 4.6%. Overall, mixed results suggest limited immediate impact on monetary policy or the Australian dollar.

October 30, 2024
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