Inflation Jumps to 3.2 Percent in September

The Queen Victoria Market, operating since 1878, is the largest open-air market in the Southern Hemisphere. Adam Calaitzis/ShutterstockIn a major setback for those expecting a rate cut, Australia’s annual inflation rate climbed to 3.2 percent in September, up from 2.1 percent in June, according to the latest data from the Australian Bureau of Statistics (ABS).The Consumer Price Index rose 1.3 percent over the quarter, while underlying inflation lifted to 3 percent from 2.7 percent.