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Inflation slightly slowed in October

Inflation slightly slowed in October

Australia's gender pay gap has stalled for the first time in nine years

New figures from the Australian Bureau of Statistics show prices rose 6.9% from October 2021 to October 2022. This is slightly lower than the September inflation figure of 7.3%.

The Reserve Bank expects inflation to peak at the end of the year at around 8%.

The fastest rising categories were housing (10.5%), food and non-alcoholic beverages (8.9%) and transport (7.4%).

The rising cost of housing was driven by increases in rents and in the cost of building new houses.

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