Australia Jan CPI up 3.8% y/y

By Sophia Rodrigues

Australia's Consumer Price Index rose 0.4% q/q in January, slowing from a 1.0% rise in December, but the y/y pace was unchanged at 3.8%.

Trimmed mean CPI rose 0.3% q/q and 3.4% y/y, and the seasonally adjusted CPI rose 0.5% q/q and 3.8% y/y, data from the Australian Bureau of Statistics showed.

The largest contributor was housing, up 6.8% y/y, accelerating from 5.5% y/y in December. This was mainly due to rise in electricity costs, up 32.2% y/y in January vs 21.5% y/y in December.