Australia’s annual inflation rate accelerated to 4.3% in September 2026 from 4.0% in August, above market expectations of 4.2%, marking the highest rate since March. The reading also moved further above the central bank’s 2–3% target range. Transport inflation accelerated to a six-month high of 8.7% from 5.6%, driven by higher automotive fuel prices, which surged 23.6%, marking the fastest increase in six months amid rising global oil prices. Meanwhile, inflation for food and non-alcoholic beverages accelerated to 3.2%, while inflation for recreation and culture rose to 4.5%. Meanwhile, housing inflation eased to 5.2% from 5.7% in August, though it remained the largest contributor to inflation. The trimmed mean CPI rose to 3.6% yoy from 3.5%, in line with forecasts, while the weighted median eased to 3.4% from 3.6%. On a monthly basis, the CPI increased by 0.8%, exceeding expectations of a 0.7% rise and accelerating from a 0.4% gain in August to mark its largest increase in six months.