(Finance) – The consumer price index in Australia grew by 3.5% annually in the fourth quarter of 2021, compared to 3% in the previous three months and beyond market estimates (+ 3.2%).
This is what the Bureau of Statistics according to which inflation on a sequential basis has instead risen to 1.3% from 0.8% in the previous two periods and against the + 1% expected by analysts.
The rate of inflation, explains the Canberra statistics agency, was driven by rising fuel prices, problems with the global supply chain, shortages of materials and increased demand before the Christmas holidays.
On a quarterly basis, consumer prices rose 1.3% in the fourth quarter, due to an increase in the cost of new housing and automotive fuel.