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Australia's CPI rises 1.2% in Q3 2023, annual inflation at 5.4%

Michelle Marquardt, ABS head of prices statistics, said "CPI rose *.* per cent in the September quarter, higher than the *.* per cent rise in the June **** quarter. The rise this quarter however continued to be lower than those seen throughout ****."

The primary drivers of the third-quarter rise were automotive fuel, which saw a substantial increase of *.* per cent, and electricity, which rose by *.* per cent. Automotive fuel&#**;s surge was attributed to higher global oil prices, marking the most significant quarterly increase since March ****. Electricity prices reflected higher wholesale prices resulting from annual price reviews in July, ABS said in a media release.