Australia’s Monthly Inflation Gauge, compiled by the Melbourne Institute, rose 0.3% month-on-month in November 2025, matching October’s pace and marking a third consecutive monthly increase. The latest data comes ahead of the Reserve Bank of Australia’s policy meeting on December 9. In November, the RBA kept its cash rate at 3.6%, maintaining borrowing costs at their lowest since April 2023. The central bank noted that inflation has eased sharply from its 2022 peak, despite a temporary uptick in September. The board anticipates one more rate cut in 2026, with underlying inflation expected to exceed 3% in the near term before moderating to around 2.6% by 2027. The annual inflation rose to 3.8% in October from 3.6% in September, remaining above the RBA’s 2–3% target, while the trimmed mean CPI climbed to 3.3% year-on-year, surpassing the 3% consensus.