Australia Monthly Consumer Price Index indicator, November 2022: 7.3% y/y (prior 6.9%)

Preview and background to this is here:

• Australian monthly CPI report, November 2022, is due today, 11 January 2023,

The monthly CPI indicator rose 7.3% in the twelve months to November.

• The most significant price rises were Housing (+9.6 per cent), Food and non-alcoholic beverages (+9.4 per cent), Transport (+9.0 per cent), Furniture, household equipment and services (+8.4 per cent) and Recreation and culture (+5.8 per cent).

The 'trimmed mean', which is a measure of core inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term rose 5.6% y/y

• prior (October) was 5.3%

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ABS comment 9underlining is mine)

• ABS Head of Prices Statistics, said "This month's annual movement of 7.3 per cent compares to 6.9 per cent in October and 7.3 per cent in September, indicating ongoing inflationary pressures."