Australian inflation data shows the Reserve Bank's preferred trimmed mean measure rose from 3.4% to 3.6%, the highest level since September 2024, despite headline inflation falling slightly. Financial experts warn this could trigger a fourth interest rate rise, with the underlying measure indicating inflation is still building in the economy. The fuel excise cut, which reduced petrol prices by 16 cents per litre for three months, is set to return at half that rate, potentially adding inflationary pressure through second-round effects.

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