A pedestrian walks past the Reserve Bank of Australia (RBA) headquarters in the central business district of Sydney, Australia. - David Gray/Bloomberg
SYDNEY: Australian inflation races to a 32-year high as the cost of home building and gas surges, a result that stokes pressure for a return to more aggressive rate hikes by the country’s central bank.
Data from the Australian Bureau of Statistics (ABS) showed the consumer price index (CPI) jumped 1.8% in the September quarter, topping market forecasts of 1.6%.
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