SYDNEY—Australia’s core inflation flew to its fastest annual pace since 2014 in the December quarter as fuel and housing costs led broad-based price pressures, a shock that will stoke market speculation of an early hike in interest rates.
Data from the Australian Bureau of Statistics out on Tuesday showed the headline consumer price index (CPI) rose 1.3 percent in the fourth quarter and 3.5 percent for the year, topping forecasts.
