Expectations grow for interest rate hike next week after Australia’s inflation jumps to 3.8%

Rapidly rising consumer prices led to annual inflation growing from 3.4% to 3.8%Follow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastInflation jumped to 3.8% in the year to December, from 3.4% in the month before, as strong underlying price growth added to the chance of a Reserve Bank rate hike on Tuesday.The latest figures from the Australian Bureau of Statistics suggested that Australian households once again face a fight to bring rapidly rising consumer prices back under control. Continue reading...