Australia’s Inflation Gauge Rises for a Fourth Straight Month

Australia’s Melbourne Institute Monthly Inflation Gauge climbed again in October, bringing its run to four monthly gains as recreation and transport costs led the increase and September annual CPI inflation reached 4.3%. Consumer prices across Australia were 4.3% above year-earlier levels in September, up from 4.0% in August. Trimmed mean inflation was 3.6%, while the overall rate exceeded the 4.2% forecast and was the highest since March. September’s annual rate stood above the Reserve Bank of Australia’s 2% to 3% target band. U.S. consumer prices increased 3.7% over the 12 months through September, below Australia’s rate.

Source: TokenPost