Fears grow for fourth rate hike after higher than expected July inflation rate

The Guardian World Wednesday 26 August 2026, 06:44 UTC By Patrick Commins Economics editor 1 min read

Key Points

ABS says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hikeFears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected. Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics.

ABS says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hike

Fears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected.

Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics.

CPI (ORG) Reserve Bank (ORG) the Reserve Bank (ORG) the Australian Bureau of Statistics (ORG)

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