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Inflation Eases Slightly to 4.9 Percent in October Ahead of Rate Rise Decision

Inflation is still up year on year, with analysts predicting the Reserve Bank of Australia will keep rates on hold.
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Inflation Eases Slightly to 4.9 Percent in October Ahead of Rate Rise Decision
People shop for fresh produce at the Queen Victoria Market in Melbourne on July 4, 2023. William West/AFP via Getty Images
Monica O’Shea
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Inflation in Australia has eased in October but is still up 4.9 percent year-on-year ahead of a cash rate decision next week.

The monthly CPI indicator jumped 4.9 percent in the 12 months to October, a fall from 5.6 percent in the year up to September, Australian Bureau of Statistics (ABS) data shows.
Monica O’Shea
Monica O’Shea
Author
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]
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