Australia's consumer inflation increased 1% month-on-month in August, exceeding expectations of 0.8%, and rebounded from a 0.1% decline in July. Year-over-year, inflation rose to 3.5%, above the forecasted 3.3% but below the previous 3.8%. These figures have increased the likelihood of an interest rate hike by the Reserve Bank of Australia in November, according to ANZ Research.
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