MNI BRIEF: Aussie Trimmed Mean Inflation At 3.4% Y/Y In April

Trimmed mean annual inflation rose 3.4% y/y in April, up from 3.3% in March and in line with expectations, while the measure was flat at 0.3% m/m, data from the Australian Bureau of Statistics showed Wednesday.

Headline inflation rose 4.2% y/y, 20 basis points below expectations and down from March’s 4.6%.

Housing, the largest-weighted component in the CPI basket, was the biggest contributor to annual inflation, rising 6.3% in April. Transport prices increased 6.6%, easing from an 8.9% rise in March.

Automotive fuel was excluded from the trimmed mean — the Reserve Bank of Australia’s preferred inflation measure — in both March and April 2026.

“The impact of higher oil prices has also been seen in products and services with high freight and logistics costs, such as parcel delivery and building materials,” said Sue-Ellen Luke, head of price statistics at the ABS. “This is reflected in price increases of 12.4 per cent for Postal services and 4.7 per cent for New dwelling construction compared to 12 months ago.”