CANBERRA, ACT, Sept. 30 -- The Treasurer of Australia issued the following media release:
New data from the ABS shows annual headline inflation rose in expected ways in August but underlying inflation remained stable.
These numbers confirm the overwhelming influence on inflation in August was higher global oil prices.
All of the increase in annual headline inflation was from a combination of higher fuel costs and the unwinding of last year's energy rebates.
Today's increase in annual headline inflation follows four consecutive months of moderation.
The re‑escalation of the war in the Middle East is pushing up fuel costs, inflation and interest rates around the world and these numbers show Australia is not immune.
Inflation incre...