Australian inflation stats make rate hike likely

A November rate hike looks a near certainty after Reserve Bank of Australia data showed a higher-than-expected percentage-point jump in inflation.

Data for the three months to September published by the central bank on Wednesday revealed that consumer prices had increased by the highest margin since June 1991. The change takes the central bank's annual consumer price measure up to 3.1%.

The Australian Bureau of Statistics inflation measure, also published on Wednesday, indicated prices had ri

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