Australia’s annual inflation eased slightly in November 2025, with the consumer price index rising 3.4% over the 12 months to the month, down from 3.8% in October 2025, according to the latest data from the Australian Bureau of Statistics.
Michelle Marquardt, ABS head of price statistics, said the slowdown reflects moderating costs across both goods and services.
Housing remained the largest contributor to annual inflation, rising 5.2%, driven by increases in rents, new dwellings, and electricity.
Electricity prices, in particular, rose 19.7% over the year, down from a 37.1% increase in October 2025, following the tapering of state and federal household electricity rebates.
Annual services inflation eased to 3.6%, supported by lower costs for domestic holiday travel after a surge in October 2025.
Food and non-alcoholic beverages rose 3.3% over the year, with notable increases in meat and seafood, particularly beef and lamb, which jumped over 10% due to strong overseas demand.
Fruit and vegetable prices also climbed, with monthly increases in November 2025 for apples, citrus, asparagus, pumpkins, and broccoli.
Transport inflation held steady at 2.7%, with automotive fuel prices rising 3.5% annually and 2.5% in November alone.
Measures of underlying inflation, including the trimmed mean, indicated a slightly lower annual increase of 3.2%, suggesting broader price pressures remain moderate.
Marquardt added that monthly CPI data now allow analysts to track temporary events, such as Black Friday sales, which had minimal impact on the annual inflation change from October to November 2025.