Australia's inflation accelerates to 4.3%, raising rate hike prospects
Consumer price index rises ahead of Reserve Bank decision, with underlying inflation also elevated at 3.6%.
At a glance
- Headline inflation rose to 4.3%
- Underlying inflation at 3.6% annually to September
- Reserve Bank decision expected next week
- Figures increase prospects of further rate rise
Australia's headline inflation rate has accelerated to 4.3% according to the latest consumer price index release. The Reserve Bank of Australia's preferred underlying inflation measure came in at 3.6% annually to September.
The figures have sharpened expectations of another interest rate increase from the central bank, with a decision scheduled for next week.
Why it matters
Persistent inflation pressures may prompt the Reserve Bank to continue raising rates to combat the cost of living crisis.
Original reporting
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