Food prices rise as drought hits Australian supplies, with inflation climbing to 1.8%

Most analysts expect the Reserve Bank will delay a rate cut next week with inflation just below its preferred range

Inflation figures for the December quarter have nudged higher and most analysts expect the Reserve Bank will delay a rate cut.

Annual inflation climbed 0.1% to 1.8%, which the RBA board may consider when it meets on Tuesday. The 1.8% figure is just below the Reserve's preferred 2.0% to 3.0% range.