Jun 24, 2026 – 12.29pmHeadline inflation slowed to 4 per cent in May, helped by the Albanese government’s fuel excise cut, but a rise in the Reserve Bank’s preferred measure of price increases means further interest rate rises this year are still on the table.The RBA’s preferred measure of underlying inflation, which strips out the most volatile items, rose from 3.4 per cent to 3.6 per cent in May, data released by the Australian Bureau of Statistics on Wednesday showed.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Underlying inflation increase keeps alive chances of more rate rises
While the headline consumer price index fell to 4 per cent in May, the Reserve Bank’s preferred underlying core measure ticked up from 3.4 to 3.6 per cent.
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