Key statistics

• The Consumer Price Index (CPI) rose 0.9% this quarter.
• Over the twelve months to the March 2025 quarter, the CPI rose 2.4%. – this is steady from December
• The most significant price rises this quarter were Housing (+1.7%), Education (+5.2%) and Food and non-alcoholic beverages (+1.2%).
• Partially offsetting the rise were Recreation and culture (-1.6%) and Furnishings, household equipment and services (-0.9%).

Importantly for anyone wondering if the RBA could find any reason not to cut rates is that the trimmed mean (which is the underlying measure) fell from 3.3% to 2.9%.

Peter Dutton has been banging on about the underlying inflation because it was been above 3% unlike the CPI, but now… well even that line is gone.