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AAP

Business

Paul Osborne

Cost of living data top of watch list

Inflation ABS Australian Bureau of Statistics Reserve Bank United States

Increasing food prices have helped drive up inflation to the highest level in over three decades. (Joel Carrett/AAP PHOTOS) (AAP)

A key consumer price index will be closely watched for a further inflation spike as the Reserve Bank weighs up yet another cash rate hike.

The CPI release on Wednesday will be only the second time the Australian Bureau of Statistics has issued a monthly rather than quarterly inflation figure.

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