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Australia's rising inflation lifts risk of 4th rate hike
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Shoppers look at produce at a shopping center in Sydney on Wednesday, July 27, 2022. Inflation in the year through June was 6.1%, up from 5.1% in the year through March, the Australian Bureau of Statistics said. - photo by AP Photo/Rick Rycroft
CANBERRA, Australia (AP) — Australian inflation rose farther, according to new data released on Wednesday that increases the likelihood of the central bank next week hiking interest rates for a fourth consecutive month. Inflation in the year through June was 6.1%, up from 5.1% in the year through March, the Australian Bureau of Statistics said. Inflation only rose by 3.5% during the last calendar year.