Australia Inflation Jumps to 4.3%, Pressuring RBA on 4.85% Rate Call
Updated
Updated · ABC News · Oct 28
Australia Inflation Jumps to 4.3%, Pressuring RBA on 4.85% Rate Call
3 articles · Updated · ABC News · Oct 28
Summary
Australia’s headline inflation accelerated to 4.3% in the 12 months to September from 4.0% in August, rising far more than economists expected.
That increase leaves inflation well above the Reserve Bank of Australia’s 2% to 3% target band, reinforcing concerns after Deputy Governor warnings that the outlook had become “materially worse.”
Next week’s RBA meeting is now pivotal, with the data likely to shape whether policymakers lift the cash rate to 4.85%—an 18-year high.
The figures sharpen pressure on the central bank as it weighs whether inflation is proving sticky enough to require another rate increase.