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National Consumer Price Index (NCPI) Reveals Rise in Overall Inflation to 4.2% in December 2023

The Department of Census and Statistics reports that the Overall Rate of Inflation, measured by the National Consumer Price Index (NCPI), has escalated to 4.2% in December 2023. This marks a notable increase from the 2.8% recorded in November of the same year.

In the realm of food prices, inflation has experienced an upward trend, reaching 1.6% in December 2023. This is in stark contrast to the -2.2% reported in November, signifying a significant shift.

Conversely, non-food inflation has shown a decline, registering at 6.3% in December 2023, as opposed to the 7.1% recorded in November.

For detailed insights and further information, the full report can be accessed via the following link: NCPI December 2023 Report Source – NewsWire

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