Where inflation was sitting in January (annual %)

Shaded area: the Reserve Bank's 2-3% target range for inflation

"All groups CPI" refers to headline inflation. The "trimmed mean" is the RBA's preferred measure of underlying inflation. Annual movements prior to April 2025 are calculated by comparing each quarter to the same quarter in the previous year. From April 2025 these movements are calculated by comparing each month to the same month in the previous year.
Chart: ABC NewsSource: Australian Bureau of StatisticsGet the dataCreated with Datawrapper