Australia Inflation Rises 0.2% On Quarter In Q4

(RTTNews) - Consumer prices in Australia were up a seasonally adjusted 0.2 percent on quarter in the fourth quarter of 2024, the Australian Bureau of Statistics said on Wednesday - shy of forecasts for 0.3 percent but unchanged from the previous quarter.

Individually, prices for recreation and culture were up 1.5 percent and alcohol and tobacco rose 2.4 percent. These were offset by losses among housing and transportation, both down 0.7 percent.

On an annualized basis, inflation rose 2.4 percent - also missing forecasts for 2.5 percent and down from 2.8 percent in Q3.

The trimmed mean added 0.5 percent on quarter and 3.2 percent on year, both down from 0.8 percent on quarter and 3.5 percent on year in the three months prior.

The weighted mean was up 0.5 percent on quarter and 3.4 percent on year, also down from 0.9 percent on quarter and 3.8 percent on year in the third quarter.