EconomyInflation leaps to 4%, stoking fears of fifth interest rate hike before Christmas

Australia’s annual inflation rate rose to 4% in August from 3.5%, with fuel prices surging 15% amid higher global oil prices and the worsening Middle East conflict. Treasurer Jim Chalmers blamed the external shock, while economists said inflation remained above the Reserve Bank’s 2.5% target and another rate hike could come before year-end.

Australia inflationinterest ratesoil pricesReserve Bank of Australia

TThe Guardian★★★☆☆2026-09-30 04:40Original