Australia’s CPI Surges 1.2% in Q3 2023

The most significant contributors to the rise in the September quarter were automotive fuel (+7.2 per cent), rents (+2.2 per cent), new dwellings purchased by owner occupiers (+1.3 per cent) and electricity (+4.2 per cent).

Automotive fuel rose 7.2 per cent after two quarters of price falls. This is the largest quarterly rise in fuel prices since March 2022 and is mainly caused by higher global oil prices.

Rents rose 2.2 per cent, following a 2.5 per cent rise in the June quarter…

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