Australian inflation rises to 5pc

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SYDNEY, Oct 22 (AFP): Australia's inflation rate jumped a higher-than-expected 1.2 per cent in the third quarter and five per cent in the year to September, official data revealed today.
The figures released by the Australian Bureau of Statistics (ABS) were higher than the one per cent rise for the quarter and 4.9 per cent rise from a year earlier that economists had predicted.
The weighted median CPI rose 1.3 per cent in the September quarter, with an annual rise of 4.8 per cent, according to the ABS, which calculates the weighted measure to allow the central bank to calculate the underlying inflation trend.