According to data issued by the Australian Bureau of Statistics, on Wednesday, the level of inflation in Australia increased by approximately 7.3% in the year until November 2022 AD.
According to data from the Office of National Statistics in Australia, the level of inflation in Australia that has witnessed the highest in 32 years.
According to the data, inflation in Australia increased by 7.3%, while expectations indicated that it would increase by 7.2%. It is also higher than the reading recorded in Australia during the previous month of October, which amounted to 6.9%. According to the (Arab Trader) website.
The office said in a statement, “The reading of the consumer price index on an annual basis came in violation of market expectations and exceeded them.”
The data shows the return of rising inflation in Australia, at a time when most of the other major economies recorded a slowdown in the rate of inflation.
The US Federal Reserve raises interest rates by 75 points for the third time in a row
It is noteworthy that the Reserve Bank of Australia had only raised interest rates at its last meeting in early December by 25 basis points for the third time in a row.
