Australian inflation accelerates again
Australia's annual consumer inflation accelerated to 4.3% in September from 4.0% in August, according to figures released on October 28.
Annual trimmed mean inflation reached 3.6%, while August's reading was revised down from 3.6% to 3.5%. Quarterly headline inflation increased 1.3%, compared with 0.6% in the previous quarter. Housing costs rose 5.2% annually and transport prices increased 8.7%.
The data strengthened expectations that the Reserve Bank of Australia could raise interest rates at its November 3 meeting. Higher oil prices are feeding into consumer costs, complicating the return of inflation to the target range. No new policy decision has yet been announced.
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