Australia Inflation Rises In November

RTTNews | 239 dias atrás
Australia Inflation Rises In November

(RTTNews) - Australia's consumer price inflation accelerated in November largely due to the timing of electricity rebate, the Australian Bureau of Statistics said on Wednesday. Headline inflation rose to 2.3 percent in November from 2.1 percent in October. Inflation was slightly above economists' forecast of 2.2 percent.

However, annual trimmed mean inflation eased to 3.2 percent from 3.5 percent in October.

"Annual trimmed mean inflation remains higher than CPI inflation as it removed large price falls for electricity and automotive fuel," ABS head of prices statistics Michelle Marquardt said.

In some states and territories, households received two rebate payments in October in lieu of not receiving a payment in July, Marquardt said. From November, most households received one payment. As a result, electricity prices decreased 21.5 percent in November from a year ago, which was slower than the 35.6 percent annual fall in October.

The Reserve Bank of Australia is unlikely to pay much heed to the slight pickup in headline inflation, Capital Economics' economist Abhijit Surya said.

With underlying price pressures showing clear signs of cooling, there is a growing risk that the Bank will cut rates sooner than May, the economist noted.

Another report from ABS showed that the number of job vacancies increased for the first time since May 2022. Vacancies grew 4.2 percent in November from August. However, it was 10.3 percent lower than in November 2023.

Etiquetas: AUD
read more
Australia Trade Surplus At 17-Month High; Household Spending Growth Rises

Australia Trade Surplus At 17-Month High; Household Spending Growth Rises

Australia's trade surplus surged to the highest level in more than a year in July and household spending growth accelerated for the third straight month in July, official data showed on Thursday. The trade surplus increased unexpectedly to A$7.3 billion in July from A$5.4 billion in June, the Australian Bureau of Statistics said.
RTTNews | 13 h 37 min atrás
Australia GDP Growth Accelerates In Q2

Australia GDP Growth Accelerates In Q2

The Australian economy expanded at a faster pace in the second quarter after severe weather events damped activity in the preceding quarter, data from the Australian Bureau of Statistics revealed on Wednesday. Gross domestic product growth doubled to 0.6 percent in the June quarter from 0.3 percent in the March period. The rate also exceeded economists' forecast of 0.5 percent.
RTTNews | 1 dia atrás
Australia Inflation Accelerates To 1-Year High

Australia Inflation Accelerates To 1-Year High

Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.
RTTNews | 8 dias atrás
Australia Consumer Sentiment At 3 1/2 Year High: Westpac

Australia Consumer Sentiment At 3 1/2 Year High: Westpac

Australia's consumer confidence improved to a three-and-a-half year high in August as the central bank is expected to lower rates further after a third cut this year, monthly survey results from Westpac showed on Tuesday. The Westpac-Melbourne Institute Consumer Sentiment Index rose to 98.5 in August from 93.1 in June.
RTTNews | 16 dias atrás
Australia Trims Key Interest Rate For Third Time This Year; Cuts Growth Outlook

Australia Trims Key Interest Rate For Third Time This Year; Cuts Growth Outlook

The Reserve Bank of Australia reduced its benchmark interest rate by a quarter-point for the third time this year as underlying inflation continued to moderate, while economic growth outlook was lowered due to weaker-than-expected recovery in public demand. The board decided to trim the cash rate target by 25 basis points to 3.60 percent. The decision was unanimous.
RTTNews | 23 dias atrás