Inflation rises 4.9% for October – Housing supply conditions ease

The monthly Consumer Price Index (CPI) indicator rose 4.9% in the 12 months to October 2023, according to the latest data from the Australian Bureau of Statistics (ABS).

The 4.9% increase is down from 5.6% in September and below the peak of 8.4% in December 2022.

The most significant contributors to the October annual increase were Housing (+6.1%), Food and non-alcoholic beverages (+5.3%) and Transport (+5.9%).

Read the full article here from Australian Broker.