Inflation Falls to 4-Year Low, Boosting RBA Rate Cut Hopes

Lower global fuel prices drove inflation down, while electricity, fruit, and health costs pushed quarterly prices higher.

This picture taken on April 15, 2025 shows people walking among the high-rise buildings in Sydney's central business district at the end of office hours in Australia. Saeed Khan/AFP via Getty Images

Australia’s inflation rate has eased to its lowest level since March 2021, with overall prices rising more slowly.

The Consumer Price Index (CPI) increased by 2.1 percent over the past year and 0.7 percent in the June quarter, according to new data from the Australian Bureau of Statistics (ABS).