Australia's inflation rate rose 7.8% from a year earlier and hit a 33-year high in the final quarter of 2022, exceeding forecasts and prompting money markets to price in an interest-rate hike at the RBA meeting on Tuesday.
Core inflation, a measure preferred by the RBA, accelerated to 6.9% year on year in the October to December quarter, exceeding economists' forecast of 6.5%. The result indicates inflation remains very strong even after 3 percent...