Inflation leaps to 4% stoking fears of fifth interest rate hike before Christmas

Jim Chalmers says ‘higher global oil prices flowing through to oil prices in Australia’ are to blame for inflation rising from 3.5% Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast Inflation has jumped to 4% in the year to August, from 3.5%, as Jim Chalmers was again forced to defend Labor’s economic management amid fears the Reserv…