FX.co ★ Australia’s Core Inflation Stalls as Trimmed Mean CPI Holds at 3.6% in Q2

Australia’s underlying inflation held steady in the second quarter of 2026, with the trimmed mean Consumer Price Index (CPI) remaining unchanged at 3.6% year-over-year. The figure, released on 29 July 2026, matches the previous reading of 3.6%, indicating that core price pressures neither intensified nor eased over the period.

The trimmed mean CPI, which excludes the most volatile price movements and is closely watched as a gauge of underlying inflation trends, suggests that Australia’s disinflation momentum may be pausing. With the annual rate effectively flat compared to the prior quarter’s year-over-year reading, policymakers and markets are likely to interpret the data as a sign that inflation is stabilizing rather than continuing to recede.

The year-over-year comparison framework underscores that the Q2 2026 outcome reflects price changes relative to the same quarter a year earlier, while the previous indicator captured the corresponding shift in the prior quarter. The unchanged 3.6% rate keeps the focus on whether inflation can be steered closer to target in coming quarters without derailing economic growth.