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Australia monthly CPI rose back to 7.3% yoy in Nov, ongoing inflationary pressures

Australia monthly CPI accelerated from 6.9% yoy to 7.3% yoy in November, above expectation of 7.2% yoy.

Michelle Marquardt, ABS Head of Prices Statistics, said “This month’s annual movement of 7.3% compares to 6.9% in October and 7.3% in September, indicating ongoing inflationary pressures.”

The most significant contributors to the annual rise in November were Housing (+9.6%), Food and non-alcoholic beverages (+9.4 per cent), Transport (+9.0%), Furniture, household equipment and services (+8.4%) and Recreation and culture (+5.8%).

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