Inflation jumps to 3.2%, dashing hopes of a Melbourne Cup day rate cut for homeowners
by Patrick Commins Economics editor from World news | The Guardian on (#71314)
The RBA has long anticipated a rebound in the headline inflation rate, driven by the rolling expiry of generous household power bill subsidies
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Inflation has jumped to 3.2% in the year to September, from 2.1% in June, as waning government subsidies feed through to higher household power bills.
Any lingering chance of a rate cut next Tuesday - or this year - was squashed after the new Australian Bureau of Statistics figures also confirmed the first rise in underlying inflation in nearly three years.
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