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The Reserve Bank is under increased pressure to lift interest rates

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Josh Frydenberg MP, Minister for the Environment and Energy attends a forum on Carbon and Energy, at the Economic and Social Outlook Conference held at Grand Hyatt in Melbourne on Thursday, July 20, 2017. The conference provides a platform for debate on A

Josh Frydenberg MP, Minister for the Environment and Energy attends a forum on Carbon and Energy, at the Economic and Social Outlook Conference in 2017. Source: AAP Image/Joe Castro NO ARCHIVING

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 latest Bureau of Statistics figures show the consumer price index for the March quarter surged 2.1 per cent - taking the annual rate to 5.1 per cent.

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By Gareth Boreham

Presented by SBS Nepali

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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 latest Bureau of Statistics figures show the consumer price index for the March quarter surged 2.1 per cent - taking the annual rate to 5.1 per cent.

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