December & Q4 2022

December & Q4 2022

January 25, 2023

The headline CPI (unadjusted) rose by another 1.9% in Q4 2022, taking the annual inflation rate to 7.8% (the highest level since Q1 1990). The markets had expected that CPI had increased by 1.6% in the quarter and 7.5% through the year. The annual rate of trimmed mean inflation, the RBA’s favourite inflation gauge, increased to 6.9%, which is a new series high (since Q3 2003). The monthly CPI indicator suggests that headline inflation rose to 8.4% in December from 7.3% in the previous month.

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