The price of living has gone up, sparking talk of another official interest rate rise by the RBA.
Consumer Price Index data released today by the Australian Bureau of Statistics revealed the official CPI rose one percent in the September quarter, spurred on rising electricity, water and sewerage prices.
The price of power has increased more than 15 percent over the past 12 months, rents have increased more than six percent, and water and sewerage costs have gone up nearly 15 percent.
The spike has fuelled speculation the RBA will increase interest rates by a further 25 basis points at its official meeting next Tuesday.
Reserve Bank governor Glenn Stevens has said in the past that emergency settings for monetary policy must be removed as the threat has now passed and the economy is in recovery mode.
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