Australia: Monthly CPI proving "sticky"
Australian monthly CPI fell to 4.9% for the 12 months to October while trimmed mean -- the RBA's favorite measure of underlying inflation -- edged down slightly, from 5.4% in September to 5.3% in October. This supports the RBA governor's message that services inflation may prove difficult to tame.
Especially when one considers that electricity prices are measured net of government rebates and relief payments. Before adjustment, electricity prices increased by 14.0% over the past 12 months and not the 10.1% included in CPI....
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