Australia’s inflation rate rose to 6.8% in April stoking fears of another rate rise

Economists had been tipping CPI would come in at 6.4% after dropping to 6.3% in March

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Inflation jumped to 6.8% in April, driven higher by automotive fuel costs, stoking concerns of another RBA rate rise.

The increase was higher than the 6.3% annual rise reported by the Australian Bureau of Statistics for March. Economists had predicted the April increase in consumer prices would be 6.4%.

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