Australia CPI January 2027 (27)
January 26, 2027 @ 7:30 pm - 8:30 pm
Australia CPI January 2027 (27)
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
- 3.4% annual, 0.0% monthly
- Actual
- Pending
Full schedule and background: Australia CPI.
Updated
The Australian Bureau of Statistics (ABS) releases its Consumer Price Index (CPI) report for December 2026 on Wednesday, January 27, 2027, at 11:30 am AEDT (7:30 pm ET on Tuesday, January 26, and 12:30 am London time on Wednesday). This report measures how prices for goods and services changed across Australia in December 2026 and, because it now forms part of the ABS’s complete monthly CPI series, it will also show the annual inflation rate for the twelve months to December 2026. For the full release schedule and background on how this series works, see the Australia CPI hub page.
What is the Consumer Price Index?
The CPI tracks the average change in prices paid by households for a fixed basket of goods and services, including food, housing, transport, health and education. The ABS collects prices across these categories each month and weights them according to how much an average household spends on each, producing both a monthly percentage change and an annual (year-on-year) inflation rate.
Markets watch the CPI closely because it is the primary gauge the Reserve Bank of Australia (RBA) uses when setting the cash rate, the interest rate that influences mortgage rates, savings returns and the cost of business borrowing across the country. A reading that runs hotter or cooler than expected can shift expectations for the RBA’s next move within minutes of release.
Alongside the headline figure, the ABS publishes a trimmed mean measure, sometimes called core inflation. This strips out the most volatile price swings (such as petrol or fresh produce) to give a clearer read on underlying inflation pressure, which the RBA tends to weight more heavily than the headline number when it is volatile.
When is the December 2026 CPI released?
The ABS is scheduled to publish the Consumer Price Index, Australia report for the December 2026 reference month on January 27, 2027, at 11:30 am AEDT. The data is released through the ABS website as part of its statistical release calendar. Since completing its transition to a full monthly CPI series in November 2025, the ABS has published this report on a consistent monthly schedule, typically in the final week of the following month.
What is the consensus forecast?
As this release is still some way off, a consensus forecast from economists surveyed by Reuters or Bloomberg has not yet been published. Forecasts for monthly CPI readings are typically compiled by financial data providers in the days immediately before release, once the ABS has confirmed the exact publication date on its release calendar.
The most recent verified ABS monthly CPI print available shows the annual inflation rate at 3.4%, with a 0.0% change from the prior month, for the November 2025 reference period, according to the ABS Consumer Price Index, Australia release. More recent prints covering 2026 will have been published well before the December 2026 report, but were not yet available to verify at the time this preview was written.
| Measure | Prior (most recent verified) | Consensus |
|---|---|---|
| Headline CPI (annual) | 3.4% (November 2025) | Not yet published |
| Headline CPI (monthly) | 0.0% (November 2025) | Not yet published |
What the result could 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 hike, and the Australian dollar may strengthen | Prices rose faster than expected, which could keep borrowing costs higher for longer |
| In line with consensus | Limited market reaction, as the data confirms the existing policy path priced into interest rate markets | Inflation is behaving roughly as expected, so the RBA’s current approach is unlikely to change immediately |
| Below consensus | Markets may increase bets on an RBA rate cut, and the Australian dollar could weaken against the US dollar and British pound | Prices rose more slowly than expected, which could support an eventual easing of interest rates |
These are possible market reactions based on how traders have historically responded to CPI surprises, not predictions of what will happen in January 2027.
Why does this release matter right now?
The RBA sets Australia’s cash rate with a target of keeping annual inflation within a 2% to 3% band over time. Since the ABS completed its shift from a quarterly to a complete monthly CPI series in November 2025, policymakers have had a timelier read on price pressures than before, when they had to wait three months between data points, according to the ABS’s own announcement of the monthly CPI transition. As of the most recent verified reading, annual inflation sat at 3.4%, above the top of the RBA’s target band, which kept the central bank cautious about cutting rates further.
Global central banks, including the US Federal Reserve, the Bank of England and the European Central Bank, also watch Australian inflation data as one signal among many on how commodity-exporting, consumer-driven economies are responding to global supply chains and interest rate settings. A sustained move in Australian inflation can feed into broader sentiment about inflation trends across developed economies.
What It Means for Your Money
- Mortgages and borrowing: If CPI data pushes the RBA toward holding or raising its cash rate, Australian variable mortgage rates and new fixed rates are likely to stay higher for longer. A cooler inflation print increases the odds of eventual rate cuts, which would ease monthly repayments over time.
- Savings: Higher-for-longer rates generally mean better returns on savings accounts and term deposits in Australia, while a shift toward rate cuts would gradually reduce those returns.
- Jobs and wages: Persistent inflation above the RBA’s target can squeeze real wages (pay after inflation is accounted for) if wage growth does not keep pace, affecting household budgets across Australia.
- Prices: The CPI itself is the most direct measure of how much more expensive everyday items such as groceries, rent and petrol have become over the past year.
- Investments, pensions and currencies: Shifts in inflation expectations can move the Australian dollar against the US dollar, the euro and the pound, which matters for anyone holding Australian shares, bonds or superannuation funds with overseas exposure, as well as travellers and importers across Europe and Asia who deal in Australian dollars.
Related events
- The previous Australia CPI release: Australia CPI, January 2027
- The Reserve Bank of Australia’s next cash rate decision, which typically follows the CPI release by one to two weeks
- Australia’s monthly labour force and wage price index releases, which the RBA reviews alongside CPI data
Frequently Asked Questions
What time is the December 2026 Australia CPI released?
The ABS publishes the report at 11:30 am AEDT on January 27, 2027, which is 7:30 pm ET on January 26 and 12:30 am London time on January 27.
How do I read the CPI report?
Focus on the annual percentage change for the headline figure and the trimmed mean (core) measure, as these are the figures the RBA weighs most heavily when setting interest rates.
How does this release affect interest rates?
A higher-than-expected inflation reading increases the chance the RBA holds or raises the cash rate, while a lower reading increases the chance of a future rate cut, though the RBA considers many other indicators too.
Where can I find the official release?
The ABS publishes the full report, including data tables, on its Consumer Price Index, Australia webpage.
When is the next Australia CPI report after this one?
Under the ABS’s current monthly schedule, the next report (covering January 2027 data) is expected roughly four weeks later, following the pattern set out on the ABS release calendar.