The Daily Aus Headlines: Interest rates expected to rise after inflation jump
Jan 28, 2026
Inflation surged to 3.8% for the year, driven by higher electricity and travel costs. Destructive bushfires in Victoria’s Otway Ranges have destroyed homes and cut utilities. A stage attack in Minneapolis involved a man spraying an unknown liquid toward a U.S. politician. Australians earned multiple BAFTA nominations this awards season.
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Inflation Jump Could Trigger Rate Rise
- Australia's annual inflation rose to 3.8% in December, up from 3.4% in November.
- The jump could prompt an interest rate hike at the Reserve Bank's first meeting of the year.
Energy And Travel Pushed Prices Higher
- Electricity price rises partly drove inflation as some power bill rebates expired.
- Travel costs jumped sharply, with domestic up ~8% and international up ~24%, adding upward pressure.
Otway Ranges Fire Threatens Communities
- An uncontrolled bushfire in Victoria's Otway Ranges has destroyed at least three homes and threatened more.
- The blaze moved towards Jellibrand and Carl Warren after extreme heat and winds damaged local water infrastructure.
