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Isaac Gross, Lecturer in Economics, Monash University

Australia’s inflation rate jumps to 4%, putting an RBA rate rise back on the agenda

Inflation Australia Reserve Bank Bureau of Statistics

A key measure of inflation has jumped, climbing to 4% in May after edging up from a recent low of 3.4% in February.

The Bureau of Statistics monthly consumer price indicator produced an annual inflation rate of 3.6% in April. This was the same as the longer-established Bureau of Statistics quarterly measure, which produced 3.6% in March.

The upward turn suggests the Reserve Bank will have to revisit the case for an interest rate hike when it meets next in early August.

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