Australian inflation falls to 4.9 pct

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Australian inflation falls to 4.9 pct

STORY: Australian inflation falls to 4.9 pct SHOOTING TIME: Nov. 30, 2023 DATELINE: Dec. 1, 2023 LENGTH: 00:01:04 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of supermarkets in Canberra 2. various of Canberra-related footage STORYLINE: Australia's rate of inflation has fallen to its equal-lowest level in over 18 months, official data has shown. According to figures published by the Australian Bureau of Statistics (ABS) on Wednesday, the consumer price index (CPI) rose by 4.9 percent in the 12 months to October, down from the 5.6 percent increase in the year to September. It marked the equal-lowest rise for the CPI since January 2022 when inflation was at 4 percent. The state media Australian Broadcasting Corporation (ABC) reported that economists had generally forecast the figure would come in at 5.2 percent. The ABS identified a 6.1 percent rise in the cost of housing between October 2022 and October 2023 as the biggest driver of inflation, followed by a 5.9 percent rise in t

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