Australia CPI January 2027
January 5, 2027 @ 7:30 pm - 8:30 pm
Australia CPI January 2027
Next Australia CPI: Wednesday, at 11:30 am AEDT (7:30 pm ET, 12:30 am London). Covers December 2026 data.
- Consensus
- Not yet published
- Prior
- Trimmed mean 3.6% / headline 3.8%
- Actual
- Pending
Full schedule and background: Australia CPI.
Updated
The Australia Consumer Price Index (CPI) for December 2026 is scheduled for release on Wednesday, January 6, 2027 at 11:30 am AEDT (Australian Eastern Daylight Time), which is 7:30 pm ET on January 5, 2027 in the United States and 12:30 am on January 6, 2027 in London. The figures are published by the Australian Bureau of Statistics (ABS), the country’s official statistics agency. Full background and the release schedule for this series is available on the Australia CPI hub page.
What is the Australia CPI?
The CPI measures the change in prices that Australian households pay for a fixed basket of goods and services, from groceries and petrol to rent, electricity and health insurance. The ABS compares today’s prices with the same basket a year earlier to produce the annual inflation rate, and with the previous month to produce the monthly rate.
Since November 2025, the ABS has published a complete monthly CPI, replacing the old system in which only a partial monthly indicator existed and the full quarterly CPI was the main measure. This monthly upgrade gives investors, businesses and the Reserve Bank of Australia (RBA) a more timely read on inflation than the quarterly release used to provide.
Alongside the headline figure, the ABS publishes a trimmed mean, a core inflation measure that strips out the most volatile price movements (such as fuel and fresh food) to show the underlying trend. The RBA watches the trimmed mean closely because it is less noisy than the headline number and gives a clearer signal of where inflation is heading over time.
When is the December 2026 CPI released?
The release is scheduled for Wednesday, January 6, 2027 at 11:30 am AEDT, published by the ABS on its website. This report covers price data for December 2026. Australia’s monthly CPI is normally published on the final Wednesday of the month following the reference period, though the exact date can shift around the Christmas and New Year period, which is why this particular release falls early in January rather than late December. From February 2027 onward, the ABS has said it will move the regular publication day to the fourth Wednesday of each month, according to the ABS Consumer Price Index, Australia release.
What is the consensus forecast?
A consensus forecast for the December 2026 CPI has not yet been published. Forecasts from economists surveyed by Bloomberg and Reuters typically appear in the days immediately before each release, so a specific median estimate for this report will only become available closer to January 6, 2027.
The most recent confirmed ABS figures available at the time of writing are from mid-2026. In the 12 months to June 2026, headline CPI eased to 3.8%, below the 4.0% rise economists had expected, according to data reported by Trading Economics. The trimmed mean, the RBA’s preferred core measure, held at 3.6% in the 12 months to July 2026, unchanged from June, according to the ABS’s Consumer Price Index, Australia release. Both figures remained above the RBA’s 2 to 3% target band.
| Measure | Prior (most recently confirmed) | Consensus |
|---|---|---|
| Headline CPI (annual) | 3.8% (June 2026) | Not yet published |
| Trimmed mean CPI (annual, core) | 3.6% (July 2026) | Not yet published |
Because this preview is being published well ahead of the event, the November 2026 CPI report (due in December 2026) will provide the most immediate comparison figure for this release. Readers should check the November 2026 Australia CPI page once that data is out.
What could the result mean?
| Scenario | Likely market read | What it means in plain English |
|---|---|---|
| Above consensus | Traders could price in a higher chance the RBA holds rates for longer or considers a further hike, supporting the Australian dollar | Prices are rising faster than expected, which could keep borrowing costs higher for longer |
| In line with consensus | Limited market reaction, since the outcome matches what was already priced in | Inflation is behaving broadly as expected, so the current interest rate outlook is unlikely to change quickly |
| Below consensus | Markets could bring forward expectations of RBA rate cuts, which may weigh on the Australian dollar | Prices are rising more slowly than expected, which could eventually feed through to lower borrowing costs |
These are possibilities discussed by market commentators, not predictions. The Reserve Bank of Australia has repeatedly said its decisions depend on a broad set of data, not one release alone, as noted by RBA Assistant Governor Sarah Hunter in commentary reported by Trading Economics.
Why does this release matter right now?
Inflation in Australia has been gradually cooling from its post-pandemic peak but has stayed above the RBA’s 2 to 3% target band through much of 2026. Quarterly data showed annual inflation eased to 3.9% in the June quarter of 2026 from a two-year high of 4.1% in the March quarter, with Assistant Governor Sarah Hunter describing the reading as “a touch softer” than expected, while noting that underlying price pressures from housing and services remained persistent, according to Trading Economics.
Housing costs have been the largest single contributor to annual inflation through 2026, alongside food and non-alcoholic beverages, according to the ABS’s own commentary in its monthly releases. The labour market has also stayed relatively tight, which the RBA has said supports continued wage growth and keeps some upward pressure on prices even as headline inflation eases. Each new CPI print, including this one for December 2026, feeds directly into the RBA’s rate-setting decisions and is watched closely by currency traders, bond markets and anyone with a variable-rate mortgage in Australia.
What It Means for Your Money
Mortgages and borrowing: If inflation runs hotter than expected, Australian borrowers with variable-rate home loans could face a longer wait for interest rate cuts from the RBA. A softer than expected reading could support hopes of relief on mortgage repayments.
Savings: Higher inflation for longer can mean savings accounts and term deposits continue to offer relatively attractive interest rates in Australia, though the real return depends on how fast prices are rising compared with the interest paid.
Jobs and wages: A tight labour market alongside sticky inflation means workers may continue to see above-average wage growth in some sectors, though this can also make it harder for the RBA to bring inflation back to target.
Prices: Persistent inflation in housing, food and other essentials directly affects household budgets in Australia, and also feeds into how the RBA sets rates that indirectly influence prices across the economy.
Investments, pensions and currencies: Global investors watch Australian CPI because it shapes RBA policy, which in turn affects the Australian dollar against the US dollar, the pound and the euro. A stronger than expected reading can support the Australian dollar, while a weaker reading can weigh on it, with knock-on effects for anyone holding Australian assets, superannuation funds, or currency-exposed investments in the UK, Europe or Asia.
Related events
- Previous release: Australia CPI, November 2026 data
- Full schedule and background: Australia CPI hub page
- Reserve Bank of Australia interest rate decisions, which respond directly to CPI data released throughout 2026 and 2027
Frequently Asked Questions
What time is the Australia CPI for December 2026 released?
The ABS is scheduled to publish the report at 11:30 am AEDT on January 6, 2027, which is 7:30 pm ET on January 5, 2027 and 12:30 am on January 6, 2027 in London.
How do I read the headline versus the trimmed mean figure?
The headline CPI shows the overall change in prices including volatile items such as fuel, while the trimmed mean strips out the most extreme price moves to show the RBA’s preferred measure of underlying inflation.
How does this data affect Reserve Bank of Australia interest rate decisions?
The RBA uses CPI data, particularly the trimmed mean, as one of its main inputs when deciding whether to hold, raise or cut its cash rate, alongside labour market and wage data.
Where can I find the official release?
The ABS publishes the full report, including data tables, on its Consumer Price Index, Australia page.
When is the next Australia CPI release after this one?
Under the ABS’s published schedule, monthly CPI releases continue on a roughly four-week cycle, with the regular publication day moving to the fourth Wednesday of the month from February 2027 onward.