New figures show Australia's inflation rate ticked down just days before the Iran war made fuel prices soar - but storm clouds are on the horizon that could put more pressure on mortgage interest rates. Trimmed mean inflation - which excludes volatile items to provide a clearer picture of underlying price pressures - was unchanged at 3.3 per cent. The Reserve Bank of Australia's inflation target is between two and three per cent. Governor Michele Bullock said the Iran war will add to Australia's inflation problem, but domestic conditions were already too tight before its outbreak. Treasurer Jim Chalmers said rising oil prices will be challenging for Australia.

Source: Daily Mail March 25, 2026 00:44 UTC