The monthly consumer price index could hit 7.4 per cent as inflation edges closer to its expected peak.
Recently introduced by the Australian Bureau of Statistics to supplement the main quarterly index, the monthly indicator lifted seven per cent annually in July before falling to 6.9 per cent in August.
The index rose 7.3 per cent in the 12 months to September.
CommSec economist Ryan Felsman said the figure could hit 7.4 per cent for October.
Inflation movements will be watched carefully by the Reserve Bank of Australia ahead of its final cash rate decision for the year next Tuesday.
The central bank has been lifting interest rates rapidly since May to curb an increasingly sticky inflation.
The ABS will also release data indicative of the health of the construction sector - building approval numbers and the amount of construction work completed.
Building approvals data provides insight into what building work is coming up, whereas construction work done is one of the inputs plugged into economic growth calculations.
ANZ analysis forecast construction falling about 10 per cent through 2023 and 2024, which is less than the 15 per cent slide it previously predicted over the same period.
ANZ's Felicity Emmett and Adelaide Timbrell revised their predictions upwards due to the massive backlog of work that is expected to keep activity strong for a while.
"Labour and product constraints, as well as inclement weather have restricted construction activity through much of 2022," they said.
The pair now expect to see construction activity peaking early next year.
© AAP 2022