Chalmers Has One Point, Fuel Did Explain More Than 100% of August CPI Rise One component added more to August CPI than the entire CPI actually rose. The detailed ABS numbers explain how.
Look under the hood: comparing Australian and US inflation Headline inflation is 3.5% in Australia and 3.4% in the US. But Australia's underlying inflation is 3.6%, compared with US core inflation of just 2.4%.