Highlights
- The Reserve Bank is under increased pressure to lift interest rates after Australia's annual inflation rate climbed to its highest level in two decades, fuelled by rising petrol prices and housing costs.
- The underlying inflation rate - which evens out volatile price swings and provides a better long-term outlook - also climbed 1.4 per cent to 3.7 per cent for the year.
- It's the first time since 2010 that rate has been above the Reserve Bank's 2 to 3% target range.
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