The Australian Bureau of Statistics has released the Consumer Price Index figures for September.
The Consumer Price Index rose 1.2 per cent in the September 2023 quarter and 5.4 per cent annually, according to new data from the Australian Bureau of Statistics . The most significant contributors to the rise in the September quarter were automotive fuel , rents , new dwellings purchased by owner-occupiers and electricity . Food prices also rose this quarter, with the increase being the softest quarterly rise since September 2021.
"While prices continued to rise for most goods and services, there were some offsetting falls this quarter including for child care, vegetables, and domestic holiday travel and accommodation," she said. The figures came in a little above expectations and could complicate matters for the Reserve Bank as it tries to bring down inflation. While inflation is sinking convincingly from its peak, it remains well above the central bank's target of 2-3 per cent.
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