Inflation surges to six-month high, driven by the cost of new dwellings
The Australian Bureau of Statistics released new Consumer Price Index data showing inflation at a six-month high. The cost of new dwellings was a main driver. The article excerpt is cut off, so no further detail is available.
Why is the cost of new homes pushing inflation to a six-month high?
Builders and carpenters are directly exposed because new home construction costs are pushing inflation up. This may affect quoting, client budgets and new-build demand, and could feed into interest rate pressure.
Key takeaways
- ABS CPI data shows inflation has reached a six-month high.
- The cost of new dwellings was a key driver of the latest inflation result.
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