The RBA has primed the market for an interest rate rise. But what will it mean for unemployment? | Greg Jericho

Central bank forecast that unemployment might have to move even higher makes it clear how much more the RBA cares about inflation than full employment Get our daily political email, free app or daily news podcast Back in July, the June inflation figures killed off chances of a rate rise; yesterday, however, the September inflation figures all but guarantee a rate rise next week. The September figures are a bit quirky because the Bureau of Statistics published both the monthly and old quarterly ones.

The monthly measure had annual inflation jumping up from 4.0% to 4.3%; while the quarterly measure – which the RBA has in the past said was more important – remained steady at 3.9% (and if anything fell very slightly): But that did not matter: all focus was on the 4.3% number, even though monthly figures are much more erratic and subject to jumps and falls in certain prices. In September, as was the case in July and August, petrol prices were the big driver.