Economic Buzz: Australia?s monthly inflation rises 0.5%, reinforcing rate hike bets

Australia?s Melbourne Institute Monthly Inflation Gauge rose 0.5% month-on-month in October, accelerating from 0.3% in September and marking a fourth consecutive monthly increase. Persistent price pressures have strengthened expectations of another RBA rate hike at this week?s policy meeting. Annual headline inflation reached a six-month high of 4.3% in September, well above the central bank?s 2?3% target range.

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