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The Guardian - AU
The Guardian - AU
National
Luca Ittimani

Australia’s inflation slows to 3.4%, easing fears of a February interest rate hike

Inflation RBA Diana Mousina Stephen Smith the Reserve Bank
Pictured: Australian Dollar coins and notes placed on a receipt showing GST tax. Inflation has fallen further than expected but remains high at 3.4%
With inflation slipping to 3.4%, financial markets are betting there is a two-thirds chance interest rates will stay on hold when the RBA board meets in February. Photograph: Lukas Coch/AAP

Inflation has fallen further than expected but remains high, with economists saying interest rate hikes will probably be delayed but remain on the table.

Consumer prices rose 3.4% in the year to November, below the 3.6% markets had expected, Australian Bureau of Statistics data showed on Wednesday.

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