Inflation has jumped to 3.2% to dash hopes of a Melbourne Cup day rate cut for homeowners

The RBA has long anticipated a rebound in the headline inflation rate, driven by the rolling expiry of generous household power bill subsidiesFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastInflation has jumped to 3.2% in the year to September, from 2.1% in June, as waning government subsidies feed through to higher household power bills.Any lingering chance of a rate cut next Tuesday was squashed, after the new Australian Bureau of Statistics figures also confirmed a troubling rise in underlying inflation. Continue reading...