The Australian Bureau of Statistics’ (ABS) latest consumer price index reading rose +4.6% in the year to March, up from 3.7% in the year to February. The increase is attributed to rises in the categories housing (+6.5%), transport (+8.9%) and food and non-alcoholic beverages (+3.1%). ABS even dedicated a whole page to describe the impacts on fuel costs (on just about everything) in the index.

Food and non-alcoholic beverages inflation held steady at 3.1% in the year to March 2026. Meat prices were the standout, up 4.8% driven by strong overseas demand for Australian red meat. Meals and takeaway rose 3.9% for the period, due to higher wages and ingredient costs. Inflation for dairy and related products fell to +2.5% in the year to March, down from +2.7% in February. Chocolate pushed snacks and confectionery up 5.7%.