Australia inflation cools in third-quarter, highlights challenge for RBA

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Australia inflation cools in third-quarter, highlights challenge for RBA
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Australian consumer prices cooled a notch last quarter, underscoring the challen...

SYDNEY - Australian consumer prices cooled a notch last quarter, underscoring the challenge the country’s central bank faces in bringing back inflation and interest rates to what is considered ‘normal’ levels.

Annual CPI inflation climbed 1.7%, also matching expectations, data from the Australian Bureau of Statistics released on Wednesday showed. Prices for utilities and new dwelling purchases by owner-occupiers both fell slightly through the year to the September quarter, while rents recorded only a small rise.

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