CANBERRA, Nov. 27 (Xinhua) -- Australia's rate of inflation remained steady at 2.1 percent in the 12 months to October, official data showed.
The Australian Bureau of Statistics said on Wednesday that the consumer price index (CPI), the headline measure of inflation in Australia, rose 2.1 percent in the year to October.
It matched the 2.1 percent rate of inflation recorded in the 12 months to September, which was the lowest annual figure since July 2021.
News Corp Australia newspapers reported that economists had expected the rate of inflation to increase to 2.3 percent.
Food and non-alcoholic beverage prices were 3.3 percent higher in October than 12 months earlier. In the same period recreation and culture prices grew 4.3 percent, alcohol and tobacco prices by 6.0 percent and rents by 6.7 percent.
Those increases were partially offset by sharp falls in electricity and automotive fuel prices. Electricity prices fell 35.6 percent in the 12 months to October, the largest annual fall on record due to government subsidies, and automotive fuel prices fell 11.5 percent.
Treasurer Jim Chalmers described the figures as an encouraging sign that government policies were helping to bring down inflation. ■
