Breaking: Australia's annual inflation rises to 4% in August as housing and fuel costs climb

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Breaking: Australia's annual inflation rises to 4% in August as housing and fuel costs climb

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This piece is freely available to read. Become a paid subscriber today and help keep Mencari News financially afloat so that we can continue to pay our writers for their insight and expertise.Australia’s consumer prices rose 4.0 per cent in the 12 months to August, up from 3.5 per cent in July, the Australian Bureau of Statistics said Wednesday.Housing was the largest contributor, rising 5.7 per cent on the back of higher costs for new dwellings and electricity. New dwelling prices rose 5.4 per cent as builders passed on higher costs for materials and labour, said Rachael McCririck, the ABS head of price statistics.Transport was the second largest contributor, up 5.6 per cent. Automotive fuel prices rose 14.8 per cent in August alone, compared with 7.5 per cent in July, which McCririck attributed to higher world oil prices and the unwinding of the remainder of the federal government’s fuel excise relief measures.The trimmed mean, a measure of underlying inflation that excludes items with large price swings, held at 3.6 per cent for a third consecutive month. Fuel and electricity were both excluded from that measure in August.Follow us across all major podcasting platforms and social media channels for updates that matter. Your support keeps independent journalism alive!For more in-depth coverage on these stories and other news affecting Australia and the world, subscribe to readmencari.com. Support our independent journalism by listening to our podcasts on all major platforms and considering a subscription to help us continue delivering fearless reporting free from financial and political influence.Got a News Tip?Contact our editor via Proton Mail encrypted, X Direct Message, LinkedIn, or email. You can securely message him on Signal by using his username, Miko Santos.The Mencari readers receive journalism free of financial and political influence.We set our own news agenda, which is always based on facts rather than billionaire ownership or political pressure.Despite the financial challenges that our industry faces, we have decided to keep our reporting open to the public because we believe that everyone has the right to know the truth about the events that shape their world.Thanks to the unwavering support of our readers, we’re able to keep the news flowing freely. If you’re able, please join us in supporting Mencari.Join over 1000 readers. Sign up here.We’d love it if you could share the email with your friends! Just (copy the URL here. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit theregisterau.substack.com/subscribe

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