Australia Nov inflation slows to near two-year low, core gauge slumps

SYDNEY, Jan 10 (Reuters) – Australia’s inflation slowed to a near two-year low in November and core inflation also eased sharply, a softer-than-expected result that reinforced market expectations interest rates would not need to rise any further. Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose at an annual pace of 4.3% in November, the slowest pace since January 2022. That was down from 4.9% in October and under market forecasts of 4.4%. For the month, CPI rose 0.3%. A closely watched measure of core inflation, the trimmed mean, rose an annual 4.6%, down sharply from 5.3% in November, a major relief for policymakers who had forecast the gauge to fall to…