Jump in CPI could stir debate around another RBA cash rate hike, although the spike in the oil price could prove to be transitory
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Australia’s inflation indicator accelerated last month, led by surging fuel prices and rising rents, making it clear the battle to combat increasing household prices is not over.
The consumer price index for August came in at an annual 5.2%, according to the Bureau of Statistics, up from 4.9% a month earlier, erasing recent progress in bringing inflation down.
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