A jump in inflation has reduced the chances of RBA chief Michele Bullock overseeing a rate cut. Photo: Aap Image/AAP PHOTOS

Mortgage holders might have to wait until next year for more rate relief after a sharp rise in services inflation all but killed off the already slim chance of a September cut.

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The consumer price index climbed from 2.8 to three per cent for the year to August to reach its highest level in more than a year, the Australian Bureau of Statistics reported on Wednesday.

While the result was above consensus predictions of 2.9 per cent, volatility around energy prices

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