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Surging fuel, electricity and homebuilding costs have helped drive headline inflation to 4 per cent, leaving the prospect of a November rate rise open.
RBA hikes rates to 15-year high
Interest rates are now at their highest point in almost 15 years and could surge further after the Reserve Bank of Australia hiked the official cash rate to 4.6 per cent and flagged the possibility of further tightening in order to slow inflation.
In a widely anticipated move, the central bank lifted interest rates amid warnings from governor Michele Bullock that price pressures in the economy remained too high despite evidence activity is slowing.
Senior journalist Tom Zaunmayr takes a look at some of the issues amplifying the pressures on small business owners.
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