'The news isn't good': Tom Elliott reacts to the latest inflation figures

Recent inflation figures reveal a concerning trend, with the consumer price index rising to 4.3% for the 12 months ending in September, up from 4% in August. This increase raises the likelihood that the Reserve Bank will raise interest rates on Melbourne Cup Day. While a rate hike is not guaranteed, the uptick in inflation is not the outcome officials were hoping for.

In political news, tensions are high on the Senate floor regarding health insurance. A family in Ohio faces uncertainty as discussions unfold about potential changes to private health insurance, with accusations directed at Senator Sherrod Brown for not standing firm against socialist policies. The debate centers around whether Brown will maintain his position or yield to pressures that could jeopardize health coverage for families. The upcoming election in Ohio presents a clear choice between candidates, with John Husted advocating for lower taxes and reduced spending as a counter to what he describes as socialist threats.

The 3AW Mornings host made his prediction ahead of the Reserve Bank's meeting next week. See omnystudio.com/listener for privacy information.