PCE and GDP price indexes · Australia
Australia GDP Chain Price Index QoQ
The Australia GDP Chain Price Index QoQ measures the prices of everything households (PCE) or the whole economy (deflator) buy. In Australia it is one of the main measures of inflation.
- Importance
- Medium
- Released
- Quarterly
- Next release
- Currency
- AUD · Australian dollar
- Central bank
- The Reserve Bank of Australia
Latest figures
The latest release for Q2, published on 2 September 2026, came in at -0.6%, down from 0.9% the time before (revised).
Over the last 7 releases it ranged from -0.6% to 1.4%, averaging 0.5%; it has been falling for three releases in a row.
| Released | For | Actual | Consensus | Previous |
|---|---|---|---|---|
| 2 Sep 2026 | Q2 | -0.6% | – | 0.9% ® |
| 3 Jun 2026 | Q1 | 0.8% | – | 1.4% |
| 4 Mar 2026 | Q4 | 1.4% | – | 0.9% |
| 3 Dec 2025 | Q3 | 0.8% | – | -0.5% |
| 3 Sep 2025 | Q2 | -0.5% | – | 0.6% ® |
| 4 Jun 2025 | Q1 | 0.5% | – | 1.4% |
| 5 Mar 2025 | Q4 | 1.4% | – | -0.2% |
Why it matters
In the United States the Federal Reserve's 2% target is defined on the PCE price index, and the core measure (without food and energy) is the one policymakers quote most. Because CPI comes out first, markets usually know roughly what PCE will show; surprises come from the parts measured differently, such as health care.
How it is calculated
PCE prices are built from the same price data as CPI and producer prices, but weighted by what households actually spend (including what is paid on their behalf, like employer health insurance), and the weights change every period. The GDP deflator divides nominal GDP by real GDP.
Deflator = nominal GDP ÷ real GDP × 100
PCE inflation = PCE index ÷ PCE index a year ago − 1What changes mean
- Core PCE above 2% and rising keeps the Fed cautious about cutting rates.
- The monthly change annualised (× 12) shows the latest pace; three-month averages smooth the noise.
Higher than expected: A higher figure than expected makes the Reserve Bank of Australia more likely to keep rates high or raise them: it tends to support the Australian dollar and push bond yields up, and is often a weight on stocks.
Lower than expected: A lower figure than expected gives the Reserve Bank of Australia room to cut or hold rates lower: the Australian dollar tends to soften and bond yields to fall.
A short history
The Fed switched its preferred inflation measure from CPI to PCE in 2000 and wrote the 2% PCE target into its strategy in 2012.
Questions
What is the Australia GDP Chain Price Index QoQ?
The Australia GDP Chain Price Index QoQ measures the prices of everything households (PCE) or the whole economy (deflator) buy. In Australia it is one of the main measures of inflation.
What was the latest Australia GDP Chain Price Index QoQ?
-0.6% for Q2, published on 2 September 2026.
When is the next Australia GDP Chain Price Index QoQ?
On Wednesday 2 December 2026 at 00:30 UTC.
Educational content only, not investment advice. Figures are the published results as recorded by our calendar; market reactions described are typical, not guaranteed.