Inflation in Australia up 3 Percent on the Back of Fuel and Housing Price Rises

Tradesmen can be seen working on the roof of a house under construction at a housing development located in the western Sydney suburb of Oran Park in Australia on Oct. 21, 2017. David Gray/Reuters

The Australian Bureau of Statistics (ABS) revealed that the consumer price index (CPI) rose 0.8 percent in the September quarter, in line with economists’ expectations, and 3 percent annually.

The quarterly increase was driven by the rising fuel costs (7.1 percent) and housing construction (3.3 percent).