Australian inflation accelerates to 4% in August

• The Australian Consumer Price Index climbed 4% in the year to August.
• Housing and transport costs surged, led by a 14.8% monthly spike in automotive fuel.
• Trimmed mean annual inflation held firm at 3.6% for the third consecutive month.

Australia's Consumer Price Index rose 4% in the 12 months to August, accelerating from 3.5% in July.

The latest figure exceeded the previous month's rate as housing and fuel prices drove the overall increase.

"Housing was the largest contributor to annual inflation in August, rising by 5.7%," said Australian Bureau of Statistics head of price statistics Rachael McCririck.

Rising electricity tariffs and a 5.4% increase in new dwelling costs propelled the broader housing sector higher as builders passed on elevated material and labour expenses.

Automotive fuel prices climbed 14.8% during the month following higher global oil prices and the expiry of federal fuel excise relief.

The trimmed mean measure of annual inflation remained unchanged at 3.6% for the third straight month.

Excluding volatile items like fuel and electricity helped isolate underlying price trends across the Australian economy.