Australia’s trimmed mean Consumer Price Index (CPI) rose 3.4% year-over-year in January 2026, unchanged from the 3.4% annual pace recorded in the fourth quarter of 2025. The latest data, updated on 25 February 2026, indicate that underlying inflation pressures have remained stable at the start of the year.
The trimmed mean measure, which smooths out volatile price movements to better capture core inflation trends, shows that price growth in January 2026 was running at the same annual rate as in the previous comparison period. According to the comparison methodology, the current figure reflects the change in January prices versus January a year earlier, while the previous reading compared prices in the fourth quarter of 2025 to the same period a year before.
The flat reading suggests that, on a year-over-year basis, Australia’s underlying inflation has neither re-accelerated nor cooled further since late 2025. Investors and policymakers will be watching upcoming monthly releases closely for clearer signals on whether this stability in core inflation persists or begins to shift in the months ahead.
