The data released by the Melbourne Institute in Australia on Monday morning showed that the inflation rate in Australia rose during December at the highest pace in a year, since December of the previous year. The Melbourne Institute's consumer inflation expectations survey showed that the inflation rate increased by 0.6% in December on a monthly basis, compared to November, marking the highest reading since December of the previous year in 2023. At the same time, the core inflation measure issued by the institute recorded a growth of 0.4% in December on a monthly basis, which is the highest reading recorded since March 2024. On an annual basis, the inflation measure reported by the institute grew by 2.6% in December, compared to the same month in 2023, which is lower than the previous reading recorded in November, which was 2.9%. It is worth noting that the inflation measure published by the Melbourne Institute is an independent monthly measure of inflation in Australia, designed to provide an early indicator of price trends before the official quarterly inflation data is released by the Australian Bureau of Statistics.
