“This month’s annual movement of 7.3 per cent compares to 6.9 per cent in October and 7.3 per cent in September, indicating ongoing inflationary pressures,” Michelle Marquardt, ABS head of prices statistics, was quoted as saying in a press release by the ABS.
“In the transport group we saw some flow-on impact from the restoration of the Australian government’s fuel excise in November’s higher automotive fuel prices. These rose 16.6 per cent in the year to November up from 11.8 per cent in October. Average prices for unleaded petrol peaked at just over $2 in early November before falling to just under $1.80 by the end of November,” added Marquardt.
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