Australia’s MI Inflation Gauge showed a marked slowdown in price growth at the start of 2026, with the month‑over‑month indicator easing to 0.2% in January from 1.0% in December 2025.
The data, updated on 2 February 2026, indicate that inflationary momentum has weakened noticeably. While December’s 1.0% reading reflected a comparatively strong monthly rise in prices versus November, the January 0.2% reading suggests much more moderate price pressures from one month to the next.
The MI Inflation Gauge compares the change in prices for each reported month to the previous month. Thus, the latest figure signals that, on a month‑over‑month basis, Australian consumer prices are still rising but at a significantly slower pace than at the end of 2025.
