Official data released by the Australian Bureau of Statistics (ABS) on Wednesday showed that the Australia’s monthly Consumer Price Index (CPI) rose 5.2% in the year to August 2023compared to the annual increase of 4.9% registered in July.
The market forecast was for an increase of 5.2% in the reported period.
Main conclusions
“The most significant price increases were those of Housing (+6.6%), Transportation (+7.4%), Food and non-alcoholic beverages (+4.4%) and Insurance and financial services (+8.8%).”
“The annual change in the monthly CPI indicator, excluding volatile products and vacation travel, rose 5.5% in August, below the 5.8% rise recorded in July.”
“The trimmed annual average inflation was 5.6% in August, in line with the 5.6% rise in July.”
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
