Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
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%.
