Australia’s inflation rate rises to 4.3%, fuelling fears of fifth interest rate hike this year
Australia's inflation rate has climbed to 4.3%, increasing the likelihood of a fifth interest rate hike by the Reserve Bank of Australia. Rising costs for goods and services, coupled with unemployment concerns, are intensifying the national cost-of-living crisis.
Why it matters
High inflation and potential rate hikes directly impact household mortgage affordability and broader economic stability in Australia.
Australia’s inflation rate has risen, fuelling fears the Reserve Bank will hike interests rates for the fifth time this year. Australia’s inflation rate has risen, fuelling fears the Reserve Bank will hike interests rates for the fifth time this year. Australia news Australia’s inflation rate rises to 4.3%, fuelling fears of fifth interest rate hike this year CPI release comes ahead of Reserve Bank decision next week as the Middle East conflict intensifies the cost of living crisis
Prefer the Guardian on Google Australia’s headline inflation rate has accelerated to 4.3%, with a key gauge that strips out volatile prices also elevated, sharpening expectations of another interest rate rise next week.
The Reserve Bank of Australia’s preferred measure of consumer prices, called underlying inflation, came in at an annual 3.6% to September.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in