Faster-than-expected inflation is likely to force the Reserve Bank of Australia to deliver a 25 basis point rate hike in November, which could be the last in the current tightening cycle. Consumer prices posted a sequential growth of 1.2 percent, faster than the 0.8 percent increase in the second quarter, the Australian Bureau of Statistics reported Wednesday. Economists had forecast an annual rate of 1.1 percent.
The most significant contributors to the sequential increase were automotive fuel, rents, new dwellings purchased by owner occupiers and electricity.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.