Australia’s inflation rate highest among major advanced economies

Michael ReadEconomics correspondent

Updated Nov 17, 2023 – 5.01pm, first published at 4.32pm

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Australia’s headline inflation rate is the highest among the world’s largest advanced economies, prompting economists to warn the Reserve Bank may need to deliver further interest rate rises to quash persistent price pressures.

Australia’s consumer price index increased 5.4 per cent in the year to September 30, topping the list of headline inflation rates in the world’s 15 largest advanced economies, according to analysis by AFR Weekend.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.