Home owners are unlikely to receive further relief on interest rates for the rest of the year after a surge in inflation.

The latest figures showed headline inflation for the September quarter rose from 2.1 per cent to 3.2 per cent.

It was the first time it has left the Reserve Bank's target band of two-to-three per cent in more than a year.

Underlying inflation, the preferred measure for the central bank, rose in the three months to September to hit an annual reading of three per cent.

The larger-than expected inflation numbers led all four major banks to forecast no further rate cuts for the rest of the year.

Commonwealth and Westpac revised their forecasts to predict rates would stay at 3.6 per cent for the rest of 2025.

ANZ said the next cut would likely be in February, while NAB

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