FX.co ★ Australia’s Trimmed Mean Inflation Ticks Up to 3.5% in Q1 2026

Australia’s trimmed mean Consumer Price Index (CPI) edged higher in the first quarter of 2026, with the annual rate rising to 3.5% year-over-year, up from 3.3% recorded in February 2026. The latest figures, updated on 29 April 2026, indicate a modest reacceleration in underlying inflation pressures.

The trimmed mean CPI, which strips out the most volatile price movements to provide a clearer view of core inflation trends, is assessed on a year-over-year basis, comparing the first quarter of 2026 to the same period a year earlier. The previous reading compared February 2026 price changes to those of February 2025.

The uptick from 3.3% to 3.5% suggests underlying price growth remains elevated and is not yet easing decisively on a yearly basis, a development that will be closely watched by policymakers and financial markets assessing the trajectory of Australia’s inflation environment.