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Australia Inflation Q3 2023

Australia: Inflation moderates in Q3

Inflation declined to 5.4% in Q3 from 6.0% in Q2, marking the softest figure since Q1 2022 but surprising markets on the upside. It therefore remained entrenched above the Central Bank’s 2.0%-3.0% target band. The deceleration came on the back of softer increases in prices for food, furniture and housing and services.

Meanwhile, consumer prices rose 1.2% from the previous quarter in Q3, coming in above Q2’s 0.8% increase.

Commenting on the release, Adam Boyton, head of Australian Economics at ANZ, commented: “

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