The Consumer Price Index (CPI) increased by 3.5% annually in the 12 months to July 2026, down from 3.8% in June. Housing was the largest contributor, rising 5.0%, followed by Food and non-alcoholic beverages (3.2%) and Recreation and culture (2.6%). Trimmed mean annual inflation remained steady at 3.6%. ABS head Rachael McCririck noted housing costs rose due to higher prices for new dwellings (5.7%). Food inflation was driven by 4.5% growth in meals out and takeaway. Transport inflation increased to 1.6% from 0.1%. Monthly automotive fuel prices rose 7.5% in July, attributed to higher global oil prices and reduced fuel excise relief.
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