Aust inflation slightly above forecasts

October 28, 2009 04:58:21 PM

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Australian inflation rose 1.0 percent in September from the previous quarter, officials said Wednesday, raising expectations of a second consecutive interest rate rise next week.

The Consumer Price Index (CPI) climbed 1.3 percent from a year earlier, the Australian Bureau of Statistics said.

The figures are slightly ahead of analysts' forecasts of 0.9 percent for the quarter and 1.2 percent from a year earlier.

Australia raised interest rates by 25 basis points to 3.25 percent this month, becoming the first G20 country to do so in the wake of the global financial crisis.