The RBA has long anticipated a rebound in the headline inflation rate, driven by the rolling expiry of generous household power bill subsidies
-
Get our breaking news email, free app or daily news podcast
Inflation has jumped to 3.2% in the year to September, from 2.1% in June, as waning government subsidies feed through to a spike in household power bills.
Any lingering chance of a rate cut next Tuesday – or potentially this year – was squashed after the Australian Bureau of Statistics figures also confirmed the first rise in underlying inflation in nearly three years.