Inflation up to 3.8% as price pressures rise and hopes for Reserve Bank interest rate cuts fall
Jim Chalmers says government deciding on energy rebate extension in ‘next few weeks’ as cost of living continues to bite
Get our breaking news email, free app or daily news podcast
Inflation has climbed to 3.8% in the year to October, from 3.6% the month before, as Jim Chalmers flagged he could announce further energy bill subsidies for households in the upcoming midyear budget.
Electricity prices were 37% higher in the year to October, which the head of the Australian Bureau of Statistics, David Gruen, said reflected a “huge valley” in electricity prices this time last year when state governments’ household energy subsidies were at their peak.
