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Australia Inflation Spikes 7.3% On Year In Q3

Consumer prices in Australia surged 7.3 percent on year in the third quarter of 2022, the Australian Bureau of Statistics said on Wednesday - exceeding expectations for an increase of 7.0 percent and accelerating from 6.1 percent in the previous three months.

On a seasonally adjusted quarterly basis, inflation climbed 1.8 percent - unchanged from the second quarter but above estimates for 1.6 percent.

The Reserve Bank of Australia's trimmed mean was up 1.8 percent on quarter and 6.1 percent on year after rising 1.5 percent on quarter and 4.9 percent on year in the three months prior.

The RBA's weighted median was steady at 1.4 percent on quarter and up 5.0 percent on year after gaining an annual 4.2 percent in Q2.

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