Inflation Report Impacts RBA Rate Cuts
Inflation rose 1.3% in the September quarter, exceeding expectations and likely ruling out a cut in interest rates next week.
The consumer price index (CPI) showed a 3.2% increase over the year to September, above the central bank's target.
The trimmed mean, the Reserve Bank's preferred measure of underlying inflation, rose 3.0% over the year, indicating broad-based and persistent price pressures.
The consumer price index was the last major piece of data before the Reserve Bank meeting on Melbourne Cup day.
- Inflation jumped 1.3% in the September quarter.
- Consumer prices climbed 3.2% over the year to September.
- The trimmed mean rose 3.0% over the year.
Author's summary: Inflation rises above expectations, impacting RBA rate cuts.
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