{"id":65739,"date":"2026-08-27T06:20:17","date_gmt":"2026-08-27T06:20:17","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=65739"},"modified":"2026-08-27T06:28:02","modified_gmt":"2026-08-27T06:28:02","slug":"australian-cpi-sticky-but-no-rate-hike","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/","title":{"rendered":"Australian CPI Sticky But No Rate Hike"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>Australian CPI remains stubbornly high, with a 1.0% monthly increase in July.<\/li>\n<li>Trimmed mean CPI was unchanged at 3.6% on a year-on-year basis.<\/li>\n<li>However, the unemployment rate rose to 4.5% in July, suggesting the RBA is unlikely to raise rates.<\/li>\n<\/ul>\n<hr \/>\n<p>Australian CPI remains stubbornly high, with the Trimmed Mean, the RBA&#8217;s favored measure, holding firm at 3.6% for the 12 months to July.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png?resize=525%2C356&#038;ssl=1\" alt=\"Australian CPI &amp; Trimmed Mean CPI\" width=\"525\" height=\"356\" \/><\/p>\n<p>Headline CPI eased to 3.5% for the 12 months, but that reflects base effects from the 1.3% increase in July last year compared to a jump of 1.0% in July 2026.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi.png?resize=525%2C294&#038;ssl=1\" alt=\"Australian CPI - Monthly &amp; Annual\" width=\"525\" height=\"294\" \/><\/p>\n<p>Strong CPI in July increases the motivation for another RBA rate hike, but Justin Smirk at Westpac points out that the labor market is softening.<\/p>\n<p>Unemployment rose to 4.5% in July, up from 4.4% in June.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-u3.png?resize=525%2C281&#038;ssl=1\" alt=\"Australia: Unemployment\" width=\"525\" height=\"281\" \/><\/p>\n<p>Monthly hours worked declined by 12.5 million hours in July to 1,998 million hours in seasonally adjusted terms, a monthly fall of 0.6%.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-hours.png?resize=525%2C294&#038;ssl=1\" alt=\"Australia: Aggregate Monthly Hours Worked\" width=\"525\" height=\"294\" \/><\/p>\n<h2>Conclusion<\/h2>\n<p>We agree with <a href=\"https:\/\/www.westpaciq.com.au\/economics\/2026\/08\/inflation-video-justin-26-august-2026\">Westpac<\/a> that the RBA is unlikely to raise rates:<\/p>\n<blockquote><p>Market services inflation is above target but a softer than expected labour market and wage outcomes reduce the likelihood of a November rate hike. We believe the RBA is likely to remain on hold for the remainder of this year.<\/p><\/blockquote>\n<p>However, credit is growing at an annual rate of 8.5% and broad money supply at 8.0%. Real GDP growth of 2.5% for the 12 months to March 2026 suggests that underlying inflation is between 5.5% and 6.0% (the spread between the two measures and growth in output\/GDP).<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-credit-broadmoney.png?resize=525%2C380&#038;ssl=1\" alt=\"Australia: Credit and Broad Money Growth\" width=\"525\" height=\"380\" \/><\/p>\n<p>Our calculation of underlying inflation is more than 1.0% <u>higher<\/u> than the RBA&#8217;s current cash rate target of 4.35%.<\/p>\n<p>We will likely be stuck with high inflation for a while.<\/p>\n<blockquote><p>Inflation is always and everywhere a monetary phenomenon in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output. ~ Milton Friedman<\/p><\/blockquote>\n<h4>Acknowledgments<\/h4>\n<ul>\n<li>ABS: <a href=\"https:\/\/www.abs.gov.au\/statistics\/economy\/price-indexes-and-inflation\/consumer-price-index-australia\/latest-release\">Monthly CPI<\/a><\/li>\n<li>ABS: <a href=\"https:\/\/www.abs.gov.au\/statistics\/labour\/employment-and-unemployment\/labour-force-australia\/latest-release\">Labor Report<\/a><\/li>\n<li>ABS: <a href=\"https:\/\/www.abs.gov.au\/statistics\/economy\/national-accounts\/australian-national-accounts-national-income-expenditure-and-product\/latest-release\">Australian National Accounts<\/a><\/li>\n<li>RBA: <a href=\"https:\/\/www.rba.gov.au\/statistics\/tables\/\">Growth in Selected Financial Aggregates &#8211; D1<\/a><\/li>\n<\/ul>\n<h4>Notes<\/h4>\n<ol>\n<li>Credit and money supply represent two sides of the same coin: bank lending and bank deposits. They only tend to diverge when the RBA injects liquidity to rescue the economy from a deflationary spiral, as in 2008, 2010-2013, and 2020.<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"<p>Key Points Australian CPI remains stubbornly high, with a 1.0% monthly increase in July. Trimmed mean CPI was unchanged at 3.6% on a year-on-year basis. However, the unemployment rate rose to 4.5% in July, suggesting the RBA is unlikely to raise rates. Australian CPI remains stubbornly high, with the Trimmed Mean, the RBA&#8217;s favored measure, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Australian CPI Sticky But No Rate Hike&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[40,31,13,46],"tags":[6380,3935,881,2362,2870,5765,3531],"class_list":["post-65739","post","type-post","status-publish","format-standard","hentry","category-australia-nz-countries-regions","category-the-fed-banks-interest-rates","category-inflation-economy","category-labor-employment","tag-australian-cpi","tag-broad-money","tag-credit-growth","tag-monthly-hours-worked","tag-real-gdp","tag-trimmed-mean-cpi","tag-unemployment"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Australian CPI Sticky But No Rate Hike - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian CPI Sticky But No Rate Hike - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points Australian CPI remains stubbornly high, with a 1.0% monthly increase in July. Trimmed mean CPI was unchanged at 3.6% on a year-on-year basis. However, the unemployment rate rose to 4.5% in July, suggesting the RBA is unlikely to raise rates. Australian CPI remains stubbornly high, with the Trimmed Mean, the RBA&#8217;s favored measure, &hellip; Continue reading &quot;Australian CPI Sticky But No Rate Hike&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/\" \/>\n<meta property=\"og:site_name\" content=\"the patient investor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/profile.php?id=61572934660810\" \/>\n<meta property=\"article:author\" content=\"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/\" \/>\n<meta property=\"article:published_time\" content=\"2026-08-27T06:20:17+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-27T06:28:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png\" \/>\n<meta name=\"author\" content=\"Colin Twiggs\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Colin Twiggs\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/\"},\"author\":{\"name\":\"Colin Twiggs\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\"},\"headline\":\"Australian CPI Sticky But No Rate Hike\",\"datePublished\":\"2026-08-27T06:20:17+00:00\",\"dateModified\":\"2026-08-27T06:28:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/\"},\"wordCount\":361,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-08-26-aus-cpi-tm.png\",\"keywords\":[\"Australian CPI\",\"Broad Money\",\"Credit Growth\",\"Monthly Hours Worked\",\"Real GDP\",\"Trimmed Mean CPI\",\"Unemployment\"],\"articleSection\":[\"Australia &amp; NZ\",\"Banks &amp; Interest Rates\",\"Inflation\",\"Labor Market\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/\",\"name\":\"Australian CPI Sticky But No Rate Hike - the patient investor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-08-26-aus-cpi-tm.png\",\"datePublished\":\"2026-08-27T06:20:17+00:00\",\"dateModified\":\"2026-08-27T06:28:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-08-26-aus-cpi-tm.png\",\"contentUrl\":\"https:\\\/\\\/www.incrediblecharts.com\\\/images\\\/2026\\\/2026-08-26-aus-cpi-tm.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/2026\\\/08\\\/27\\\/australian-cpi-sticky-but-no-rate-hike\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/thepatientinvestor.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Australian CPI Sticky But No Rate Hike\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"name\":\"The Patient Investor\",\"description\":\"Smart. Strategic. Unfiltered. \",\"publisher\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/thepatientinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#organization\",\"name\":\"The Patient Investor Pty Ltd\",\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"contentUrl\":\"https:\\\/\\\/i0.wp.com\\\/thepatientinvestor.com\\\/wp-content\\\/uploads\\\/2026\\\/03\\\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1\",\"width\":250,\"height\":250,\"caption\":\"The Patient Investor Pty Ltd\"},\"image\":{\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/profile.php?id=61572934660810\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/thepatientinvestor.com\\\/#\\\/schema\\\/person\\\/d42b18d516a80149d739845749ac6454\",\"name\":\"Colin Twiggs\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g\",\"caption\":\"Colin Twiggs\"},\"description\":\"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\\\/2009 and 2020 bear markets well ahead of actual events.\",\"sameAs\":[\"https:\\\/\\\/facebook.com\\\/people\\\/The-Patient-Investor\\\/61572934660810\\\/\",\"https:\\\/\\\/www.instagram.com\\\/colin_thepatientinvestor\",\"https:\\\/\\\/au.linkedin.com\\\/in\\\/colintwiggs\"],\"url\":\"https:\\\/\\\/thepatientinvestor.com\\\/index.php\\\/author\\\/investor\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Australian CPI Sticky But No Rate Hike - the patient investor","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Australian CPI Sticky But No Rate Hike - the patient investor","og_description":"Key Points Australian CPI remains stubbornly high, with a 1.0% monthly increase in July. Trimmed mean CPI was unchanged at 3.6% on a year-on-year basis. However, the unemployment rate rose to 4.5% in July, suggesting the RBA is unlikely to raise rates. Australian CPI remains stubbornly high, with the Trimmed Mean, the RBA&#8217;s favored measure, &hellip; Continue reading \"Australian CPI Sticky But No Rate Hike\"","og_url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/","og_site_name":"the patient investor","article_publisher":"https:\/\/www.facebook.com\/profile.php?id=61572934660810","article_author":"https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","article_published_time":"2026-08-27T06:20:17+00:00","article_modified_time":"2026-08-27T06:28:02+00:00","og_image":[{"url":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png","type":"","width":"","height":""}],"author":"Colin Twiggs","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Colin Twiggs","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#article","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/"},"author":{"name":"Colin Twiggs","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454"},"headline":"Australian CPI Sticky But No Rate Hike","datePublished":"2026-08-27T06:20:17+00:00","dateModified":"2026-08-27T06:28:02+00:00","mainEntityOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/"},"wordCount":361,"commentCount":0,"publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png","keywords":["Australian CPI","Broad Money","Credit Growth","Monthly Hours Worked","Real GDP","Trimmed Mean CPI","Unemployment"],"articleSection":["Australia &amp; NZ","Banks &amp; Interest Rates","Inflation","Labor Market"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/","url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/","name":"Australian CPI Sticky But No Rate Hike - the patient investor","isPartOf":{"@id":"https:\/\/thepatientinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#primaryimage"},"image":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#primaryimage"},"thumbnailUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png","datePublished":"2026-08-27T06:20:17+00:00","dateModified":"2026-08-27T06:28:02+00:00","breadcrumb":{"@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#primaryimage","url":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png","contentUrl":"https:\/\/www.incrediblecharts.com\/images\/2026\/2026-08-26-aus-cpi-tm.png"},{"@type":"BreadcrumbList","@id":"https:\/\/thepatientinvestor.com\/index.php\/2026\/08\/27\/australian-cpi-sticky-but-no-rate-hike\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/thepatientinvestor.com\/"},{"@type":"ListItem","position":2,"name":"Australian CPI Sticky But No Rate Hike"}]},{"@type":"WebSite","@id":"https:\/\/thepatientinvestor.com\/#website","url":"https:\/\/thepatientinvestor.com\/","name":"The Patient Investor","description":"Smart. Strategic. Unfiltered. ","publisher":{"@id":"https:\/\/thepatientinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/thepatientinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/thepatientinvestor.com\/#organization","name":"The Patient Investor Pty Ltd","url":"https:\/\/thepatientinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","contentUrl":"https:\/\/i0.wp.com\/thepatientinvestor.com\/wp-content\/uploads\/2026\/03\/cropped-cropped-patience-bg-1-inverted-400x400-1.png?fit=250%2C250&ssl=1","width":250,"height":250,"caption":"The Patient Investor Pty Ltd"},"image":{"@id":"https:\/\/thepatientinvestor.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/profile.php?id=61572934660810","https:\/\/www.instagram.com\/colin_thepatientinvestor"]},{"@type":"Person","@id":"https:\/\/thepatientinvestor.com\/#\/schema\/person\/d42b18d516a80149d739845749ac6454","name":"Colin Twiggs","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/29a4e13250381b203ea835108c2d5eee4947439713c271ae5ba60afb53194432?s=96&d=mm&r=g","caption":"Colin Twiggs"},"description":"Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He founded PVT Capital (AFSL number 546090), which provides income and growth strategies to wholesale clients. Colin also co-founded Incredible Charts and writes the popular Patient Investor newsletter. Using a top-down approach, Colin identifies macro trends in the global economy and then combines fundamental and technical analysis to evaluate opportunities in sectors that stand to benefit. Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008\/2009 and 2020 bear markets well ahead of actual events.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-h6j","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":42766,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/06\/28\/australia-cpi-easing-wont-stop-rate-hikes\/","url_meta":{"origin":65739,"position":0},"title":"Australia: CPI easing won&#8217;t stop rate hikes","author":"Colin Twiggs","date":"June 28, 2023","format":false,"excerpt":"Australia's monthly CPI measure fell to 5.6% for the 12 months to May. Core CPI is more stubborn at 6.4%, while trimmed mean inflation -- the RBA's favorite long-term measure -- came in at 6.1%. Inflation may be easing but is still way above the RBA's 3.0% target. Softer prices\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-28-aus-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-28-aus-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-28-aus-cpi.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-06-28-aus-cpi.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":54921,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/06\/26\/australia-cpi-alarm\/","url_meta":{"origin":65739,"position":1},"title":"Australia: CPI alarm","author":"Colin Twiggs","date":"June 26, 2024","format":false,"excerpt":"The recent increase in CPI is causing some commentators to panic about more RBA rate hikes. Monthly headline CPI increased to 4.0% for the 12 months to May, compared to a low of 3.4% in February '24. The Trimmed Mean -- favored by the RBA -- jumped to 4.4% from\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"CPI Monthly, Trimmed Mean","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-25-aus-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-25-aus-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-06-25-aus-cpi.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":43733,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/08\/30\/australian-cpi-falls-but-no-rate-cuts-yet\/","url_meta":{"origin":65739,"position":2},"title":"Australian CPI falls but no rate cuts yet","author":"Colin Twiggs","date":"August 30, 2023","format":false,"excerpt":"The monthly measure of Australian CPI eased to 4.9% for the 12 months to July, below the less-volatile core CPI (5.8%) and trimmed mean (5.6%). The difference between CPI and core CPI mainly reflects a 7.6% fall in automotive fuel prices. A sharp 17.7% increase in diesel prices in August,\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australia: CPI, Core CPI & Trimmed Mean","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-30-aus-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-30-aus-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-30-aus-cpi.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-08-30-aus-cpi.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":65488,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/07\/29\/soft-cpi-means-no-rate-hike\/","url_meta":{"origin":65739,"position":3},"title":"Soft CPI Means No Rate Hike","author":"Colin Twiggs","date":"July 29, 2026","format":false,"excerpt":"Key Points Trimmed Mean CPI growth slowed to 0.3% in June, down from 0.4% in May. Annual Trimmed Mean CPI was flat at 3.6%, the same as in May. The RBA will likely hold the cash rate at 4.35% in August. Lower monthly CPI was partly due to federal government\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200 Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-29-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-29-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-29-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":43203,"url":"https:\/\/thepatientinvestor.com\/index.php\/2023\/07\/27\/australia-june-cpi-falls\/","url_meta":{"origin":65739,"position":4},"title":"Australia: June CPI falls","author":"Colin Twiggs","date":"July 27, 2023","format":false,"excerpt":"Australia's quarterly CPI measure declined to 6.0% for the 12 months to June (up from 5.6% on monthly CPI in May). Trimmed mean inflation -- the RBA's favorite long-term measure -- fell to 5.9%, from 6.6% in March. Quarterly changes for both CPI and Trimmed Mean declined to 0.9% (3.6%\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"Australian CPI","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-27-aus-cpi.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-27-aus-cpi.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-27-aus-cpi.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2023\/2023-07-27-aus-cpi.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":65482,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/07\/28\/will-the-rba-hike-rates-in-august\/","url_meta":{"origin":65739,"position":5},"title":"Will the RBA Hike Rates in August?","author":"Colin Twiggs","date":"July 28, 2026","format":false,"excerpt":"Key Points RBA Governor Michelle Bullock buoyed markets with her lunchtime comments today. The ASX 200 is headed for another test of 9000. However, June Quarter CPI is due for release on Wednesday. Westpac projects that the Trimmed Mean CPI for the 12 months to June will rise to 3.7%.\u2026","rel":"","context":"In &quot;Australia &amp; NZ&quot;","block_context":{"text":"Australia &amp; NZ","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/countries-regions\/australia-nz-countries-regions\/"},"img":{"alt_text":"ASX 200 Index","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-28-xjo.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-28-xjo.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-07-28-xjo.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/65739","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=65739"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/65739\/revisions"}],"predecessor-version":[{"id":65742,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/65739\/revisions\/65742"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=65739"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=65739"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=65739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}