Breaking: Headline inflation jumped to 4 per cent in August, up from 3.5 per cent in July

Headline inflation jumped to 4 per cent in August from 3.5 per cent in July By business reporter Gareth Hutchens Posted News figures show annual headline inflation jumped to 4 per cent in August, up from 3.5 per cent in July. Trimmed mean inflation, the Reserve Bank's preferred measure of underlying inflation, remained steady at 3.6 per cent for the third month in a row. The news comes a day after the Reserve Bank lifted interest rates for the fourth time this year, to their highest level in 15 years, to try to drag inflation down and stop high inflation becoming embedded in Australia's economy. On Tuesday, the RBA's Monetary Policy Board increased interest rates by 0.25 percentage points, which lifted the cash rate target to 4.6 per cent, up from 4.35 per cent. [Image text:] SMIg OGAS EEtRIETy DRENT GROCULIES oSCtoo oBus. m-sonlagn oN 99 10 FIVE DOLLARS