The monthly inflation indicator for August has been released by the Australian Bureau of Statistics and has risen to 5.2 per cent from 4.9 per cent. A big factor in the inflation increase has been the sharp increase in oil prices over the past three months. The ABS also announced on Wednesday that electricity and gas prices increased between roughly 12 and 13 per cent at an annual rate during the month of August. The annual inflation figure was in line with the market’s expectation that price pressures would accelerate. Sky News Business Reporter Edward Boyd says the market’s reaction to the increase in inflation wasn’t as bad as anticipated. “The markets like certainty, we were expecting inflation to come in at 5.2 per cent, that’s what happened so there hasn’t been a sharp increase or decrease in stocks and the Aussie dollar,” Mr Boyd said.”
The monthly inflation indicator for August has been released by the Australian Bureau of Statistics and has risen to 5.2 per cent from 4.9 per cent.
The ABS also announced on Wednesday that electricity and gas prices increased between roughly 12 and 13 per cent at an annual rate during the month of August.
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