Australia Inflation Climbs to 4.3%, Above Forecast and RBA Target

Australia’s annual inflation accelerated in September, widening its overshoot of the central bank’s target and exceeding forecasts as price growth reached its fastest pace since March.

Consumer prices rose 4.3% from a year earlier, compared with 4.0% in August. The result was above the 4.2% market forecast and marked the highest annual rate since March.

The Reserve Bank of Australia (RBA) targets annual inflation of 2% to 3%. September’s reading extended the gap between price growth and the top of that range.

In the United States, consumer prices rose 3.7% over the 12 months through September, below Australia’s rate for the month.