Jump in CPI could stir debate around another RBA cash rate hike, although the spike in the oil price could prove to be transitory
Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcast
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.
About Author
More Stories
Once named world’s ugliest animal, blobfish wins New Zealand’s fish of the year
‘Staggeringly high’: Australian renters need $130k income to afford average property, report shows
Chinese state media celebrates Trump’s cuts to Voice of America and Radio Free Asia