Australia’s inflation rebounds to annual 7.3% in Nov

SYDNEY – Australian inflation re-accelerated in November as strong demand drove holiday costs higher and flooding pushed up vegetable prices, a sign inflationary pressures had yet to peak.

Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 7.3 percent in the year to November, entirely reversing a surprise pullback to 6.9 percent in October.

A closely watched measure of core inflation, the trimmed mean, rose at an annual pace of 5.6 percent in November picking up from 5.4 percent in October.