Australia's May CPI: Annual Inflation To Rise

ANZ Research forecasts Australia's annual trimmed mean inflation to reach 3.5% in May 2026. The report emphasizes monitoring second-round cost pass-through impacts on core inflation.

Key Takeaways

• 1.ANZ Research forecasts Australia's annual trimmed mean inflation to rise to 3.5% y/y for May 2026.
• 2.Headline inflation is expected to accelerate to 4.3% y/y, despite a 0.3% m/m decline for May.
• 3.Business price pressures show signs of peaking, with many firms absorbing cost increases rather than passing them on.

Table of Contents

• Australia's May CPI: annual inflation to rise
• Breaking down our May CPI forecast
• Important Notice

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