ISTANBUL, (UrduPoint / Pakistan Point News – 25th Jan, 2023 ) :Australia’s annual inflation rate was 7.8% in the last quarter of 2022, the highest since 1990, figures showed officials on Wednesday.
“The past four quarters have seen strong quarterly increases due to higher food prices, motor fuel and new home building,” the Australian Bureau of Statistics said.
Fuel prices in Australia increased by 13.2% annually in the last quarter of 2022.
In the October-December period, higher prices were recorded for food and non-food products, reflecting high input costs for producers and high Christmas demand.
Across the country, rental prices rose 3.7% year-on-year, the data showed.