Australia's annual inflation rate rose to 3.8 percent in October, driven primarily by increasing housing costs. This latest figure represents an increase from 3.6 percent in September.

• The largest contributor to inflation was a 5.9 percent increase in housing costs.
• The Australian Bureau of Statistics (ABS) released this data, marking the first publication of its new "complete" monthly CPI.
• The Reserve Bank of Australia (RBA) had previously projected headline inflation not to exceed 3.1 percent through the end of 2027.