Australia's CPI rises 5.2% in August 2023

Additionally, when volatile items and holiday travel were excluded, the annual movement for the monthly CPI indicator saw a 5.5 per cent rise in August, marking a slight decline from the 5.8 per cent increase in July.

In terms of trimmed mean inflation, the rate stood at 5.6 per cent in August, consistent with the 5.6 per cent rise observed in July, as per ABS.

"This month’s annual increase of 5.2 per cent is up from 4.9 per cent in July. Annual inflation remains below the peak of 8.4 per cent in December 2022,” said Michelle Marquardt, ABS head of prices statistics.

ALCHEMPro News Desk (DP)