What is the Australian inflation rate right now?

The March quarter 2026 CPI is scheduled for release by the Australian Bureau of Statistics on 29 April 2026. The December quarter 2025 print was the most recent official reading. The RBA weights the ABS trimmed mean measure over headline CPI when making rate decisions.

Will the RBA raise rates in May 2026?

All four major Australian banks (CBA, Westpac, ANZ, NAB) are forecasting a 25 basis point hike at the 4-5 May meeting, which would take the cash rate from 4.10% to 4.35%. Markets price approximately a 60% probability of a hike. The decision is announced at 2:30pm AEST on Tuesday 5 May 2026.

How much will the Stage 3 tax cut phase 2 save me?

From 1 July 2026 the 16% tax rate drops to 15%. The Treasury estimates the average full-time worker will receive up to $268 of additional tax relief in 2026-27 beyond what was delivered in the first Stage 3 phase. Exact savings depend on your income bracket.

Why are major Australian banks cutting jobs?

Commonwealth Bank is cutting approximately 300 roles as part of a workforce reshaping alongside a $90 million Future Workforce Program that focuses on AI-reskilling for remaining staff. The Finance Sector Union has criticised the move given CBA posted a $5.4 billion half-year profit. WiseTech Global is cutting a larger 2,000 roles in parallel. The macro driver across both is AI adoption.

Australian Cost Of Living: Inflation, Wages, Jobs And Household Bills Tracker

This hub tracks the numbers that shape Australian household budgets: Consumer Price Index (CPI) inflation, the RBA cash rate, wages growth, the labour market, major-bank cost moves, and regulated bills (energy, petrol, Medicare, health cover). Primary sources: the Australian Bureau of Statistics (ABS), the Reserve Bank of Australia (RBA), the ACCC, and the Australian Prudential Regulation Authority (APRA).

Current numbers

Cash rate: 4.10%, set on 17 March 2026. Next RBA decision: 5 May 2026. Markets price approximately a 60% probability of a hike to 4.35%. See the mortgage rates hub.
Headline CPI: awaiting the March-quarter print on 29 April 2026. The December 2025 quarter print was the most recent official reading.
Bulk-billing rate: 81.4% of GP services bulk-billed (1 November 2025 to 31 January 2026), up from 77.1% the same quarter a year earlier. See the Medicare hub.
Petrol excise cut: 32 cents per litre combined federal excise + GST windfall, in force 1 April to 30 June 2026. Saves the average driver approximately $79 over the three months. See the petrol prices hub.

What's moving household budgets this quarter

Labour market and AI

Major Australian employers are announcing workforce restructures alongside AI investment programs. The most visible example this week: Commonwealth Bank is cutting approximately 300 roles across retail, business, institutional banking, HR and technology, while simultaneously launching a $90 million, three-year Future Workforce Program to reskill remaining staff for AI-reshaped jobs. WiseTech Global has announced approximately 2,000 role cuts in parallel. The Finance Sector Union has criticised CBA's cuts after the bank posted a $5.4 billion half-year profit. The macro signal: AI-driven workforce reshaping is now a household cost-of-living factor, not just a corporate strategy decision.

Banking and mortgages

All four major Australian banks (Commonwealth Bank, Westpac, ANZ, NAB) are forecasting a 25 basis point RBA hike at the 5 May meeting. A move to 4.35% would be the highest cash rate since late 2011 and lift variable mortgage repayments on a $600,000 25-year loan by roughly $90 per month.

Energy

The Australian Energy Regulator (AER) sets the Default Market Offer (DMO) each financial year, with the 2026-27 DMO announcement due by late May 2026. Most household energy rebates ended in early 2026, meaning bills now reflect underlying retail pricing without federal offsets for most customers.

Tax

The second phase of the Stage 3 tax cuts takes effect on 1 July 2026, dropping the 16% tax rate to 15%. The average full-time worker sees a tax saving of up to $268 per year in 2026-27. See the Australian tax changes hub.

Centrelink

Age Pension, JobSeeker, Family Tax Benefit and related payments indexed upward on 20 March 2026. The next indexation point is 20 September 2026. See the hub on Centrelink changes when it launches.

Where to check the authoritative numbers

ABS Consumer Price Index — quarterly CPI releases.
RBA Cash Rate Target — live cash rate.
ABS Labour Force — monthly unemployment and participation data.
ABS Wage Price Index — quarterly wages growth.
AER consumer page — DMO and energy regulation.

Household support currently available

Centrelink-administered payments (see eligibility via Services Australia).
State-based concession programs for energy, water, transport and council rates.
Bulk-billing incentives for GP visits (now available to all Medicare-eligible Australians, not just concession card holders).
Fuel excise cut through 30 June 2026.
Stage 3 tax cut phase 2 from 1 July 2026.

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