Australia's inflation accelerated in October, beating analysts' estimates and rising at its fastest pace in seven months, the Australian Bureau of Statistics said Wednesday.

The consumer price index rose 3.8% in October, year on year, marking its fastest pace since April, according to the official release . That was higher than economists' forecast for a 3.6% rise in a Reuters poll.

This is the first time that the ABS has released the complete monthly CPI , as the government transitions from the quarterly CPI to using the monthly gauge as the primary measure for headline inflation.

The largest contributor to consumer inflation was the housing sector that saw price growth of 5.9%, driven by higher costs in electricity, rents and new dwellings. Electricity costs surged 37.1% in Octobe

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