Inflation Report Impacts RBA Rate Cuts
Inflation rose to 1.3% in the September quarter, exceeding expectations and potentially ruling out interest rate cuts.
The consumer price index (CPI) showed a significant increase, with headline inflation almost doubling from 0.7% in the June quarter to 1.3% in the September quarter.
- Consumer prices climbed 3.2% over the year to September.
- The trimmed mean, the Reserve Bank's preferred measure of underlying inflation, rose 3.0% over the year.
This data suggests broad-based and persistent price pressures, making a cut in interest rates next week unlikely.
No direct quotes available in the text.
Author's summary: Inflation rose above expectations, impacting RBA rate cuts.
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