Australia’s CPI inflation was unchanged in January at 2.5% YoY, below expectations of a 2.6% YoY reported annual rate.

• CPI (ex volatile items, holiday) inflation accelerated 0.2 ppts to 2.9% YoY, and trimmed mean CPI inflation accelerated 0.1 ppts to 2.8% YoY.
• The top contributors to the annual movement were Food and non-alcoholic beverages (+3.3% YoY), Housing (+2.1% YoY), and Alcohol and tobacco (+6.4% YoY).
• Partly offsetting the annual rise in the monthly CPI indicator was a fall for Electricity (-11.5% YoY) and a slowdown in recreation and culture inflation, from 1.6% YoY in December to 0.9% YoY in January.

ABS updated the CPI weights for 2025 as well: