Agency. Australia’s annual inflation rate fell more than expected in May to its lowest level in 2025, according to official data. The Australian Bureau of Statistics said the consumer price index rose 2.1 per cent in the 12 months to May.
That was down from 2.4 per cent in the year to April. It was the lowest annual figure since October 2024. Local media reported that economists had expected the CPI to rise by 2.3 per cent in the year to May.
The annualized average, the Reserve Bank of Australia’s preferred measure of underlying inflation, fell to 2.4 per cent in the year to May from 2.8 per cent in the year to April.
The ABS said the largest contributors to the CPI increase in the year to May were food and non-alcoholic beverages, housing, and alcohol and tobacco. Food and non-alcoholic beverages prices rose by 2.9 per cent in the 12 months to May.
That was down from 3.1 per cent in the year to April. Rents rose 4.5 percent in the 12 months to May, compared with a 5.0 percent increase in the 12 months to April and the lowest annual increase since December 2022.
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