Mumbai, Nov. 2 -- Australia's Melbourne Institute Monthly Inflation Gauge rose 0.5% month-on-month in October, accelerating from 0.3% in September and marking a fourth consecutive monthly increase. Persistent price pressures have strengthened expectations of another RBA rate hike at this week's policy meeting. Annual headline inflation reached a six-month high of 4.3% in September, well above the central bank's 2-3% target range.
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