Higher petrol prices pushed Australia's inflation rate back to 4% in August, reinforcing the Reserve Bank's warning that price pressures remain too high.

The figures will be released just a day after the Reserve Bank of Australia hiked the official cash rate to 4.6 per cent, the highest level in 15 years, in its latest bid to slow inflation.

The odds of the Reserve Bank lifting interest rates in November have fallen sharply after the latest consumer price index (CPI) came in lower than expected. News figures from the ABS show show ...

Australia’s core inflation held steady at 3.6 per cent in the 12 months to August, according to new ABS figures released on Wednesday, but headline inflation jumped from 3.5 per cent to 4 per cent.

Headline inflation was softer than expected in June, with prices rising at an annual pace of 3.8 per cent, down from 4 per cent in May. But underlying inflation remained unchanged, at 3.6 per cent.

Like clockwork with the release of each of month’s inflation data from the ABS, there is a social media post from Treasurer Jim Chalmers talking up how either the success in fighting inflation is down ...