The Australian Bureau of Statistics reported a yearly increase of 4.1% in consumer prices for the fourth quarter of 2023. Despite forecasts for a 4.3% surge, the actual figures fell short of expectations and decreased from a previous 5.4% in the preceding quarter.
On a quarterly basis, after seasonal adjustments, inflation rose by 0.6%. Yet again, this was below the forecasted 0.8% and a decrease from the prior three months' 1.2%.
The Reserve Bank of Australia indicated that the trimmed mean increased by 0.8% for the quarter, and 4.2% for the year. Similarly, the weighted mean rose by 0.9% for the quarter and 4.4% annually.
