Inflation, as measured by the annual change in the consumer price index (CPI), accelerated to 5.1% in September from 4.8% in August. This was worse than the economists’ consensus of 4.9%, but remained comfortably within the Reserve Bank’s target range of 3%-6%. The CPI measures changes in the price of consumer goods and services purchased by households in urban areas. On average, prices increased by 0.5% between August and September.
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