Australia News

Fuel Surge Drives Inflation to 4.6 Percent

The Reserve Bank of Australia is due to make a decision on interest rates on May 5.
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Fuel Surge Drives Inflation to 4.6 Percent
A fuel tanker passes the Mobil fuel distribution centre in the Melbourne suburb of Yarraville on March 12, 2026 as the demands and prices of petrol and diesel soar due to the Middle East conflict. William West/AFP via Getty Images
Monica O’Shea
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Inflation rose to 4.6 percent in the year to March 2026 as Australians faced higher fuel prices amid conflict in the Middle East.

Data from the Australian Bureau of Statistics (ABS) data, released on April 29, showed annual Consumer Price Index (CPI) inflation reached its highest level since September 2023.

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Monica O’Shea
Monica O’Shea
Author
Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]