Australia's CPI increases 3.6% in April 2024

30 May '24

1 min read

Australia's CPI increases 3.6% in April 2024

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Australia's monthly CPI rose by 3.6 per cent in the 12 months to April, slightly up from 3.5 per cent in March.
Clothing and footwear CPI increased by 2.4 per cent year-on-year, with garments rising by 2.1 per cent.
Excluding volatile items and holiday travel, the annual CPI remained at 4.1 per cent, while the trimmed mean inflation edged up to 4.1 per cent.

Australia's monthly consumer price index (CPI) indicator rose by 3.6 per cent in the 12 months to April, according to the latest economic update by the Australian Bureau of Statistics (ABS). This marks a slight increase from the 3.5 per cent rise observed in the 12 months to March.

The CPI for clothing and footwear saw a year-on-year increase of 2.4 per cent. Within this category, garments specifically experienced a 2.1 per cent rise.

When volatile items and holiday travel are excluded, the annual movement for the monthly CPI indicator remained steady at 4.1 per cent in April, the same as in March, as per ABS.

The annual trimmed mean inflation, which excludes the most extreme price changes, also saw a slight increase. It was recorded at 4.1 per cent in April, up marginally from 4 per cent in March.

“Annual inflation increased to 3.6 per cent this month, up from 3.5 per cent in March. Inflation has been relatively stable over the past five months, although this is the second month in a row where annual inflation has had a small increase,” said Michelle Marquardt, ABS head of prices statistics.

Fibre2Fashion News Desk (DP)

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