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Australia CPI August 2026
August 25 @ 9:30 pm - 10:30 pm
Australia CPI August 2026
Next Australia CPI: Wednesday, at 11:30 am AEST (9:30 pm ET, 2:30 am London). Covers July 2026 data.
- Consensus
- Not yet published
- Prior
- 3.8% annual CPI
- Actual
- Pending
Full schedule and background: Australia CPI.
Updated
Australia’s Consumer Price Index (CPI) for July 2026 is released by the Australian Bureau of Statistics (ABS) at 11:30am AEST on Wednesday, August 26, 2026. For traders in New York that falls at 9:30pm ET on Tuesday, August 25, and for London it lands at 2:30am on August 26. The report covers price changes across the Australian economy during July 2026. Full schedule and background: Australia CPI.
What is the Australia CPI?
The Consumer Price Index tracks how much prices for a broad basket of goods and services, housing, food, transport, healthcare and recreation, have changed for the average Australian household. The ABS calculates it by pricing thousands of items each month and comparing the total cost with the same basket a year earlier, producing the headline annual inflation rate.
Since late 2022 the ABS has published a full monthly CPI indicator rather than relying only on the quarterly series, so the August release is a genuine month-on-month read on inflation rather than an interim estimate. Alongside the headline figure, the ABS publishes trimmed mean inflation, a core measure that strips out the most volatile price movements (such as petrol and fresh food) to show the underlying trend.
Markets watch this release closely because the Reserve Bank of Australia (RBA) uses it, together with the quarterly CPI, to judge whether inflation is moving back towards its 2 to 3 per cent target band. A surprise in either direction can move the Australian dollar, government bond yields and expectations for the RBA’s cash rate, with knock-on effects for currency pairs traded in London and New York and for Asian markets that track the AUD as a regional risk barometer.
When is the July CPI released?
The ABS releases the monthly CPI indicator for July 2026 at 11:30am AEST on Wednesday, August 26, 2026. It is published on the ABS website under Consumer Price Index, Australia, alongside a media release summarising the headline and trimmed mean figures. The date is confirmed on the ABS release calendar rather than estimated.
What is the consensus forecast?
As of the time of writing, a consensus forecast for the July 2026 CPI has not yet been published. Economist surveys for Australian monthly CPI readings are typically compiled by Reuters and Bloomberg in the days immediately before release, so a median forecast is likely to emerge closer to August 26, 2026.
The most recent published reading is the June 2026 monthly CPI indicator, released by the ABS on July 30, 2026. Annual headline inflation was 3.8 per cent, down from 4.0 per cent in the 12 months to May 2026, according to the ABS media release. Trimmed mean inflation, the RBA’s preferred core gauge, held at 3.6 per cent for a second consecutive month.
| Measure | Prior (June 2026) | Consensus (July 2026) |
|---|---|---|
| Headline CPI, annual | 3.8% | Not yet published |
| Trimmed mean, annual | 3.6% | Not yet published |
What the result could mean
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Analysts covering Australian inflation generally treat an upside surprise as reducing the chance of near-term RBA rate cuts, which tends to support the Australian dollar and push bond yields higher | Prices are rising faster than expected, which could delay any easing in mortgage rates and keep the cost of living elevated for longer |
| In line with consensus | A reading matching forecasts is usually seen as reinforcing the RBA’s existing policy path, with limited immediate market reaction | Inflation is behaving broadly as expected, so there is unlikely to be a sudden change in borrowing costs or the dollar |
| Below consensus | A downside surprise is typically read as strengthening the case for the RBA to consider cutting its cash rate sooner, which can weigh on the Australian dollar | Price pressures are easing faster than expected, which could eventually flow through to lower variable mortgage rates |
These are possible reactions described by market commentators, not predictions of what will happen on the day.
Why does this release matter right now?
Australian inflation has been on an uneven path through 2026. The monthly indicator moved from 3.7 per cent in the year to February 2026 up to 4.6 per cent in March, before easing to 4.2 per cent in April, 4.0 per cent in May and 3.8 per cent in June, according to successive ABS media releases. The March spike was driven in large part by transport costs, with fuel prices rising sharply, while the subsequent easing reflected falling automotive fuel prices as global oil markets stabilised.
The RBA has repeatedly said it wants to see inflation, and in particular trimmed mean inflation, converge sustainably within its 2 to 3 per cent target band before it is comfortable easing policy further. With trimmed mean inflation stuck at 3.6 per cent for two consecutive months to June 2026, the July print will be watched for evidence of whether underlying price pressures are genuinely cooling or merely stabilising above target.
Globally, the release sits alongside other major inflation data such as the US CPI report and eurozone HICP figures that central banks in Washington, Frankfurt and London are also scrutinising, making it part of a broader picture of whether global disinflation is continuing or stalling.
What It Means for Your Money
- Mortgages and rates: Australian homeowners with variable-rate mortgages are directly affected by RBA decisions that lean heavily on CPI data. A hotter-than-expected July reading could push back the timing of any future rate cut, while a cooler reading could add to the case for one.
- Savings: Term deposit and savings account rates in Australia tend to track the cash rate outlook, so a shift in inflation expectations can change what banks offer savers within weeks.
- Jobs and wages: Persistently high inflation erodes real wage growth even when nominal pay rises, so the CPI print feeds into wage negotiations and the Fair Work Commission’s annual minimum wage review.
- Prices: The report itself shows households what has been driving the cost of living, from housing and electricity to food and transport, useful context for anyone budgeting for the months ahead.
- Investments, pensions and currencies: Movements in the Australian dollar following the release can affect returns for international investors holding Australian assets, and pension funds with Asia-Pacific exposure watch the data for signs of how RBA policy, and therefore bond yields, might move. A weaker or stronger AUD also changes the cost of importing goods and travelling for Australians, and affects exporters trading with the UK, Europe and Asia.
Related events
- The Reserve Bank of Australia’s next cash rate decision, which will weigh the July CPI alongside labour market data
- The US CPI report, published by the Bureau of Labor Statistics, which shapes Federal Reserve policy and global rate expectations
- Eurozone HICP inflation data, watched by the European Central Bank for similar signs of disinflation or persistence
Recent Australia CPI readings
| Month | Annual headline CPI |
|---|---|
| February 2026 | 3.7% |
| March 2026 | 4.6% |
| April 2026 | 4.2% |
| May 2026 | 4.0% |
| June 2026 | 3.8% |
Source: ABS monthly Consumer Price Index media releases for each respective month.
Frequently Asked Questions
What time is the Australia CPI released?
The ABS releases the monthly CPI indicator at 11:30am AEST, which is 9:30pm ET the evening before in New York and 2:30am in London on the same calendar day as the Australian release.
How should I read the headline versus trimmed mean figures?
The headline CPI shows overall price changes including volatile items like fuel and fresh food, while the trimmed mean strips out extreme movements to show the underlying inflation trend that the RBA weighs most heavily.
How does this data affect RBA interest rate decisions?
The RBA uses monthly and quarterly CPI data as key evidence when setting the cash rate, so a surprise reading can shift market expectations for whether rates will rise, hold or fall at upcoming meetings.
Where can I find the official release?
The data is published directly on the Australian Bureau of Statistics website under Consumer Price Index, Australia, alongside a media release summarising the main findings.
When is the next Australia CPI release?
The ABS publishes the monthly CPI indicator roughly a month after each reference period, so the following release covering August 2026 data is expected around late September 2026, with the exact date confirmed on the ABS release calendar.