The annual rate of inflation eased slightly in February, although households continued to face rising costs for groceries, healthcare and foreign travel.

The Consumer Price Index report showed that consumers paid 2.1 per cent more for the basket of goods and services in February than they did a year earlier, down from 2.2 per cent in January.

The biggest annual price increases were recorded in health and personal care, up 4.5 per cent, followed by transport and foreign travel, up 3.3 per cent, and food, which rose 2.4 per cent. Rent increased by 1.3 per cent over the year.

The only major category to record an annual decline was fuel and power, where prices fell 4.2 per cent.

On a month-to-month basis, prices edged up 0.1 per cent between January and February. The Department of Statistics said this means a basket of goods and services that cost $100 in April 2015 now costs $121.30.

Food prices were the largest contributor to the month-over-month increase, climbing 0.7 per cent, while tobacco and liquor rose 0.5 per cent. Transport and foreign travel fell 1 per cent during the month.

Some of the strongest annual increases were seen in meats and meat products, which were up 9.3 per cent, including an 8.8 per cent rise in poultry prices. Tea, coffee and cocoa increased 4 per cent, while sugar and confectionery rose 5.7 per cent. However, dairy products and eggs fell 4.1 per cent over the year.

The report also highlighted continued increases in healthcare-related expenses. Health insurance premiums were up 4.6 per cent from February last year, while dental care increased 12.4 per cent, doctor and hospital visits climbed 3.6 per cent, and vision care also rose 3.6 per cent.

Foreign travel remained one of the strongest inflationary pressures despite a monthly decline. Prices for overseas travel were 9.3 per cent higher than a year ago, although they fell 2.3 per cent between January and February.

• See the CPI report under Related Media

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February 2026 CPI report.pdf