Australia’s inflation rate rose 1.2% in September quarter boosted by higher fuel prices

Quarterly CPI was higher than economists’ expectations and will increase speculation that the Reserve Bank may again raise interest rates

Australia’s inflation rate quickened in the September quarter, boosted by higher petrol prices, adding to pressure on the Reserve Bank to hike interest rates again.

The headline consumer price index rose 1.2% in July-September, up from 0.8% in the June quarter, the Australian Bureau of Statistics reported on Wednesday. Economists had expected the quarterly rate to come in 1.1%.