SYDNEY (Reuters) – Australian inflation re-accelerated in November as strong demand drove holiday costs higher and flooding pushed up vegetable prices, a sign inflationary pressures had yet to peak.
Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 7.3% in the year to November, entirely reversing a surprise pullback to 6.9% in October.
A closely watched measure of core inflation, the trimmed mean, rose at an annual pace of 5.6% in November picking up from 5.4% in October.
(Reporting by Wayne Cole; Editing by Muralikumar Anantharaman)