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Australia's inflation rate rises to 4.3%, raising expectations of another interest rate hike

By ChordNews · First written (new coverage )

Inflation surges more than expected ahead of RBA meeting
Image: abc.net.au
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Summary

Australia's headline inflation rate accelerated to 4.3% in the September consumer price index release, and the Reserve Bank of Australia's preferred measure, underlying inflation, came in at an annual 3.6% to September. Reports said inflation rose more than expected and exceeded both forecasts and the RBA's target, increasing expectations of an interest rate hike at the central bank's decision next week. One report said the figures sharpen fears of a fifth interest rate rise this year, as the Middle East conflict intensifies the cost-of-living crisis.

Later: Australia's October PMI revised down to 49.6; inflation gauge accelerates to 0.5% · Canberra inflation rises above the national average to 4.7 per cent · Australia raises interest rates to an 18-year high to fight inflation

Timeline

  1. ABC

    Source ↗

    ABC reports that Australia's inflation rate picked up more than expected in September, increasing expectations of an interest rate hike next week.

  2. The Guardian

    Source ↗

    The Guardian reports that Australia's headline inflation rate accelerated to 4.3%, with underlying inflation at an annual 3.6% to September, sharpening expectations of another rate rise at the Reserve Bank decision next week and fears of a fifth interest rate hike this year.

  3. Seeking Alpha

    Source ↗

    Seeking Alpha reports that Australia's inflation rose to 4.3% in September, exceeding forecasts and the RBA's target.

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