Inflation jumps +4.6% in March, driven by petrol (8.9%), housing (6.5%), and food (3.1%)

The Consumer Price Index (CPI) rose 4.6% in the 12 months to March 2026, according to the latest data from the Australian Bureau of Statistics (ABS).

Analysts had expected a 4.8% outcome, so the actual result undershot that.

Sue-Ellen Luke, ABS head of prices statistics, said: ‘March CPI inflation of 4.6% is up from the 3.7% annual inflation to February.

‘Annual CPI inflation is the highest it’s been since September 2023.’

Housing, which is the highest weighted group in the CPI, was the largest contributor to annual inflation in March, with a rise of 6.5%. This was followed by an 8.9% rise in Transport.

The CPI monthly movement for March was 1.1% (expected 1.3%), driven by Transport which rose 9.2%, due primarily to a 32.8 per cent monthly increase in automotive fuel prices

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