Australia’s CPI rose 2.8% YoY in July 2025 (vs 1.9% YoY in June), the highest since July 2024, driven by housing, electricity, and food costs.

• Trimmed mean inflation accelerated to 2.7% YoY (from 2.1%), while CPI excluding volatile items and holiday travel rose 3.2% YoY (from 2.5%).

• Housing inflation climbed 3.6% YoY (from 1.6%), with electricity surging 13.1% YoY after rebate timing effects and annual price reviews.

• Rents rose 3.9% YoY (vs 4.2%), the slowest pace since Nov 2022, while new dwelling prices held steady at 0.4% YoY.

• Holiday travel & accommodation prices rebounded +3.3% YoY (from -3.7%), with a +4.7% MoM jump in July due to school holiday demand.

• Food and non-alcoholic beverages rose 3.0% YoY, steady overall, though coffee, tea, and cocoa prices surged 14.4% YoY on weather-related supply issues.