South Korea Warns Weak Won Could Push Inflation Higher in 2025 
Oil Prices Climb on Venezuela Blockade, Russia Sanctions Fears, and Supply Risks 
Asian Stocks Slide as AI Spending Fears and Global Central Bank Decisions Weigh on Markets 
BoE Set to Cut Rates as UK Inflation Slows, but Further Easing Likely Limited 
Asian Markets Rebound as Tech Rally Lifts Wall Street, Investors Brace for BOJ Rate Hike 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
BOJ Poised for Historic Rate Hike as Japan Signals Shift Toward Monetary Normalization 
Austan Goolsbee Signals Potential for More Fed Rate Cuts as Inflation Shows Improvement 
New Zealand Business Confidence Hits 30-Year High as Economic Outlook Improves 
Dollar Holds Firm Ahead of Global Central Bank Decisions as Yen, Sterling and Euro React 
U.S. Stock Futures Edge Higher as Micron Earnings Boost AI Sentiment Ahead of CPI Data 
Yen Near Lows as Markets Await Bank of Japan Rate Decision, Euro Slips After ECB Signals Caution 
Precious Metals Rally as Silver and Platinum Outperform on Rate Cut Bets 
Gold and Silver Surge as Safe Haven Demand Rises on U.S. Economic Uncertainty 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
The annualized 12-month movement of the Australian year-on-year CPI in November 2024 came in at 2.3%. Comparing this figure, the reading of 2.1% as reported in October 2024 was well ahead of the market forecast, which had looked for a rise of 2.2% in November.
Key drivers contributing to the jump in CPI were Food and Non-Alcoholic Beverages at +2.9%, Alcohol and Tobacco at +6.7%, and Recreation and Culture at +3.2%.
However, these rises were somewhat balanced by big dips in:
Electricity: -21.5%
Automotive Fuel: -10.2%
Looking at CPI excluding more volatile items and holiday travel, the figure rose 2.8%, whereas two months ago, it had risen 2.4%. The trimmed mean inflation, or the core inflation measure, was at 3.2%, having dropped from the previous 3.5%.
This CPI data is important as it indicates the present state of the economy and impacts decisions by monetary authorities in Australia. It is still within the Reserve Bank of Australia's target inflation range of 2-3%.
