November inflation rises to 2.3% amid speculation over pre-election interest rate cut from RBA

Economists had predicted a November annual CPI inflation figure within the Reserve Bank of Australia's preferred 2% to 3% target range

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The monthly inflation rate rose to 2.3% in November, according to the latest figures from the Australian Bureau of Statistics.

The underlying inflation rate - the Reserve Bank's preferred measure for prices - has declined but remains above the bank's target band, casting doubt over the prospect of a February interest rate cut.

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