Australia’s inflation rises, concern rates could rise again

US consumer confidence wavered in June as Americans felt less cheery about the future. Photo: Scott Olson / Getty Images via AFP

Australia’s monthly inflation rate rose to its highest level in 2024 in May, suggesting that the Reserve Bank of Australia (RBA) will not be cutting interest rates soon and might even hike them again.According to a report by the Australian Bureau of Statistics published on Wednesday, consumer price inflation in Australia rose to four per...