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AAP
AAP
Politics
Jacob Shteyman

RBA blushes spared: inflation rise vindicates rate hike

RBA Michele Bullock Inflation Jim Chalmers Interest Rates
Rising oil prices and the economy reaching its speed limit have the RBA inflation-fighting mode. (Joel Carrett/AAP PHOTOS)

A jump in headline inflation to four per cent will do little to dispel the Reserve Bank of Australia's concerns inflation remains too high.

Higher fuel prices as a result of the Middle East conflict contributed to the rise in the annual consumer price index in August, from 3.5 per cent the month prior, the Australian Bureau of Statistics reported on Wednesday.

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