Australia Core Inflation Rate
Year-on-year change in consumer prices excluding food and energy.
Core Inflation Rate in Australia decreased to 3.53 percent in Aug 2026 from 3.64 percent in Jul 2026.
Australia Core Inflation Rate — History
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Australia Core Inflation Rate — analysis in simple words
Latest reading
Core Inflation Rate in Australia decreased to 3.53 percent in Aug 2026 from 3.64 percent in Jul 2026.
Over the last three months it rose once and fell twice.
Recent trend
A year earlier (Aug 2025) it was 2.9%, so the latest figure is 0.7 percentage points higher.
Historical context
This data series starts in Apr 2025 and has 17 monthly observations. The latest reading is higher than 76% of all of them.
The highest value on record is 3.7% (Jun 2026) and the lowest is 2.2% (Jun 2025). The long-run average is 3.2%.
Compared with other countries
Among 38 economies with recent data, Australia ranks 11th from the top. The median across all these economies is 2.9%, so Australia is above the typical country.
Among 12 major economies tracked on this site it ranks 2nd.
Statistics
- Latest
- 3.5%Aug 2026
- Previous
- 3.6%
- 5-year average
- 3.2%
- Long-run average
- 3.2%since Apr 2025
- All-time high
- 3.7%Jun 2026
- All-time low
- 2.2%Jun 2025
- Observations
- 17Monthly
Recent Data
| Period | Value | Change |
|---|---|---|
| Aug 2026 | 3.5% | ▼ −0.1 pp |
| Jul 2026 | 3.6% | ▼ −0.1 pp |
| Jun 2026 | 3.7% | ▲ +0.3 pp |
| May 2026 | 3.5% | ▲ +0.1 pp |
| Apr 2026 | 3.3% | ▼ −0.1 pp |
| Mar 2026 | 3.4% | ▼ −0.0 pp |
| Feb 2026 | 3.5% | ▼ −0.0 pp |
| Jan 2026 | 3.5% | ▼ −0.1 pp |
| Dec 2025 | 3.6% | ▲ +0.5 pp |
| Nov 2025 | 3.1% | ▼ −0.3 pp |
| Oct 2025 | 3.3% | ▲ +0.4 pp |
| Sep 2025 | 3.0% | ▲ +0.1 pp |
| Aug 2025 | 2.9% | ▼ −0.1 pp |
| Jul 2025 | 2.9% | ▲ +0.7 pp |
| Jun 2025 | 2.2% | ▼ −0.4 pp |
| May 2025 | 2.7% | ▼ −0.4 pp |
| Apr 2025 | 3.1% |
Core Inflation Rate — Australia vs Peers
Latest available reading for each economy (periods may differ). Australia highlighted.
More Australia indicators
Understanding Core Inflation Rate — a simple guide
What it measures
The year-on-year change in consumer prices excluding food and energy, which can jump around because of weather, harvests and oil prices.
How it is calculated
The same method as headline CPI inflation, but the basket excludes food and energy items.
If headline inflation is 4% but food prices jumped, core inflation might be only 3%.
High core inflation means price rises are broad-based, not just caused by food or fuel.
Low core inflation suggests underlying price pressure is mild.
Why it matters for the economy and markets
Central banks watch core inflation to judge the underlying trend in prices. If core inflation stays high, interest rates are more likely to stay high too.
How to read it
Compare it with headline inflation: if headline falls because fuel got cheaper but core stays high, price pressure across the economy has not really eased.
What to look at alongside it
Headline inflation, wage growth and the policy rate.
Key terms
- Headline inflation
- Inflation of the full CPI basket.
- Core inflation
- Inflation excluding food and energy.
Data source
OECD — Organisation for Economic Co-operation and Development (series OECD CPI ex food & energy), monthly data from Apr 2025 to Aug 2026. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current core inflation rate of Australia?
What is the highest and lowest core inflation rate of Australia?
What does core inflation rate measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.