Australia’s CPI rose +3.8% YoY in October 2025 (vs +3.6% YoY in September), marking a slight acceleration in headline inflation driven largely by higher housing and energy costs.

• Trimmed mean inflation increased to +3.3% YoY (from +3.2%), indicating a modest pickup in underlying inflation.

• Goods inflation edged up to +3.8% YoY (from +3.7%), with electricity the dominant driver at +37.1% YoY as government rebates expired and Energy Bill Relief Fund payment timing shifted.

• Services inflation rose to +3.9% YoY (from +3.5%), led by rents (+4.2% YoY), medical and hospital services (+5.1% YoY), and domestic holiday travel (+7.1% YoY).

• Housing inflation climbed to +5.9% YoY (from +5.7%), reflecting increases across electricity, rents, and new dwelling costs.

• Food and non-alcoholic beverages rose +3.2% YoY, unchanged from September; meat and seafood gained +3.8% YoY, while beef and lamb were up more than 10% YoY due to strong overseas demand.

• Fruit and vegetable prices rose +1.8% YoY (from +0.7%), with a +3.1% MoM rise in October driven by higher berry and apple prices.

• Holiday travel and accommodation increased +3.0% YoY (from +2.0%), boosted by a +5.9% MoM rise in domestic travel tied to nationwide school holidays and major sporting events.