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False peak warnings as monthly inflation falls

Ronald Mizen
Ronald MizenPolitical correspondent

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Annual headline inflation fell to 6.9 per cent in October, well below market expectations and all but guaranteeing a normal 0.25 percentage point interest rate rise at next week’s Reserve Bank of Australia board meeting.

Annual CPI had been expected to grow 7.6 per cent month-on-month, but a sharp fall in food prices, in particular fruit and vegetables, and holiday costs and accommodation instead led a decline.

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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com

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    Original URL: https://www.afr.com/policy/economy/false-peak-warnings-as-monthly-inflation-falls-20221130-p5c2fx