Falling clothes prices and an easing in supermarket cost pressures delivered an unexpectedly sharp fall in inflation last month.
Annual inflation fell to 4.9 per cent in October from 5.6 per cent in September, as price pressures for consumer goods moderate because of falling demand, the Australian Bureau of Statistics said on Wednesday.
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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. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
