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Rising house prices and a lower than expected unemployment rate has caused the median inflation rate to rise 0.3 percentage points in August, the Melbourne Institute has found.
The Melbourne Institute Survey of Consumer Inflationary Expectations yesterday reported that inflation had risen to 3.5 per cent in August from 3.2 per cent in July.
Melbourne Institute research fellow Dr Sam Tsiaplias said despite the rise, inflationary expectations were still well below the median expected rate of 4.9 per cent.
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