Australia’s inflation falls further than expected as prices rise at slowest pace in almost two years

November figures will give RBA some comfort that its interest rate hikes are working

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Australia’s inflation rate slowed in November, reinforcing expectations the Reserve Bank’s key interest rate has peaked.

The headline consumer price index for the month was 4.3%, down from October’s 4.9%. It shows prices were rising at their slowest pace since the 4.0% reported in January 2022, the Australian Bureau of Statistics said on Wednesday. Economists had forecast November’s CPI to be 4.4%.

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