SYDNEY (Reuters) -Australian consumer prices jumped by far more than forecast in July as electricity prices spiked due to the timing of government rebates, which has injected more volatility into this year’s series.

The Australian dollar edged back above 65 cents, while three-year bond futures fell 4.5 ticks to 96.55, the lowest in three weeks, although investors were still confident the Reserve Bank of Australia will next cut rates in November.

Data from the Australian Bureau of Statistics on Wednesday showed its monthly consumer price index (CPI) rose 2.8% in July compared to a year earlier, up from 1.9% in June and well above median forecasts of 2.3%.

The trimmed mean measure of core inflation ran at an annual 2.7% in July, up from 2.1% in June. A measure excluding volatile items and

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