CANBERRA, Oct. 26 (Xinhua) -- Australia's annual inflation has climbed to its highest level in more than 30 years amid soaring prices for housing and gas.
The Australian Bureau of Statistics on Wednesday reported the consumer price index (CPI) rose by 1.8 percent in the three months to September 30 and by 7.3 percent over the last 12 months.
It marks the highest annual figure since 1990.
According to the data, the cost of buying or building a new home rose by 3.7 percent in the September quarter and 20.7 percent over the year.
Gas prices increased by 10.9 percent in the quarter, furniture by 6.6 percent and food prices by 3.2 percent.
Those rises were slightly offset by a 4.3 percent fall in petrol prices.
The data was released one day after Treasurer Jim Chalmers handed down the federal budget for the financial year 2022-23.
The budget projected the inflation would peak at 7.75 percent later this year before falling to 3.5 percent through 2023-24.
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