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The pace of inflation has slowed more than expected, suggesting the Reserve Bank's rapid-fire interest rate hikes are working.

The Australian Bureau of Statistics reported a healthy moderation in its monthly consumer price index to 4.9 per cent in the 12 months to July, down from 5.4 per cent in June.

Markets were anticipating 5.2 per cent annual inflation through to July, continuing to pull back from its peak of 8.4 per cent in December.

"It's pleasing to see inflation is moderating but we know it will remain higher than we'd like for longer than we'd like," Treasurer Jim Chalmers said.

While confidence grows among economists that inflation is losing its edge, there were a few reasons to remain cautious.

The bureau itself noted the fall is less dramatic when volatile items are stripped out, declining more modestly to 5.8 per cent in July, compared to 6.1 per cent in June.

The monthly index is also less comprehensive than the quarterly version, with only about 60 per cent of what's included in the full quarterly report captured in the July index.

KPMG economist Brendan Rynne said goods made up a substantial chunk of the July index, although it also showed welcome signs of moderating services inflation in line with slower wage growth.

Dr Rynne said falling automotive fuel prices, which sunk 7.6 per cent annually and made a generous contribution to the weaker result, would be unwound in September.

"This reflects the upward pressures from higher wholesale prices driven by the supply curbs by OPEC+," he wrote in a note.

Within the housing category, new dwelling prices continued to moderate in line with easing building material prices, but rents moved in the opposite direction to reflect a highly competitive market.

Electricity prices picked up 15.7 per cent in the 12 months to July but ABS head of prices statistics Michelle Marquardt said the federal government's energy bill relief took some of the sting out of the increases.

"If we exclude the impact of rebates from the July 2023 figures, electricity prices would have recorded a monthly increase of 19.2 per cent," Ms Marquardt said.

Price pressures may be easing but inflation is still higher than the Reserve Bank's two to three per cent target range.

The central bank has been jacking up interest rates in response to high inflation but has left the cash rate on hold for two consecutive months, fuelling speculation the tightening cycle is over.

EY senior economist Paula Gadsby said the cooling was further evidence that rate hikes are working, but it was still unclear if it would nail a soft landing.

Ms Gadsby said the reading would allow the RBA to stay on hold on September 5, with any future hikes later in the year dependent on the next round of inflation data and economic growth report.

"That looks increasingly unnecessary to us," she said.

New data from the construction sector was also released by the ABS on Wednesday, revealing a 0.4 per cent increase in total completed construction work.

The total number of dwellings approved fell 8.1 per cent in July, with sign-off on new units dropping sharply.

© AAP 2023

Australians will decide on October 14 whether to recognise Aboriginal and Torres Strait Islander people in the constitution with a voice to parliament and government.

Prime Minister Anthony Albanese on Wednesday rallied 'yes' supporters in Adelaide, where he announced the date for the first referendum in 24 years.

"My fellow Australians, our Australian story goes back 65,000 years. And what a privilege we have of sharing this continent with the oldest continuous culture on earth," he said.

"But our story is not finished yet. It's up to all of us to write the next chapter together. And we can start by writing one word - 'yes'."

He said the vote was not about a political party or a person.

"You're being asked to vote for an idea, to say 'yes' to an idea whose time has come."

The prime minister was joined at the event by Indigenous Australians Minister Linda Burney, South Australian Premier Peter Malinauskas and a host of other 'yes' advocates, some of whom were involved in the Uluru Statement from the Heart.

The statement released in 2017 flagged the idea of constitutional recognition through an advisory body.

Early voting will be available in the first week of October.

If the referendum succeeds, the federal parliament will legislate the details of the voice's composition, functions, powers and procedures.

"Recognition, listening to advice, parliament continuing as decision maker - that's the clear, positive, and practical request from Indigenous Australians," Mr Albanese said.

NT coalition senator and 'no' campaigner Jacinta Nampijinpa Price said the voice was divisive and elitist.

"The prime minister failed to provide any evidence whatsoever that demonstrates how it will improve the lives of Indigenous Australians," she said.

"When Australians do some research ... and don't just take the prime minister's words on face value, they are more likely actually to turn their votes to 'no'."

For the referendum to succeed, a majority of states need to vote 'yes' as well as the majority of Australians.

South Australia was chosen for the launch as it is viewed as a key battleground state for the poll.

Queensland and Western Australia are widely tipped to cast a majority 'no' vote.

It is anticipated NSW and Victoria will swing behind the 'yes' campaign.

The 'yes' case has the backing of many faith groups, sporting codes, local councils, peak business organisations, unions, universities and corporations.

Tens of thousands of volunteers have registered to doorknock and send messages of support over the six-week campaign.

Former Liberal prime minister Malcolm Turnbull joined Environment Minister Tanya Plibersek and 'yes' volunteers to hand out flyers in Sydney on Wednesday.

In Tasmania, Liberal MP Bridget Archer hit the streets to encourage voters to back the proposal, while Greens leader Adam Bandt and NDIS Minister Bill Shorten talked to commuters in Melbourne's inner north.

History is against the vote succeeding, with eight of the country's 44 referendums being successful.

Opposition Leader Peter Dutton said the voice risked "legal challenges and delays" in government policy and programs.

"No issue would be beyond its reach."

Former prime minister Tony Abbott said there was no need for such a body as "we've been listening intently to Aboriginal people for many decades".

© AAP 2023

Australian electric vehicle drivers will get a major power boost after Tesla revealed plans to open almost half of its charging stations to cars from other brands.

Thirty Tesla Supercharger locations will welcome other vehicles as part of the company's expansion announced on Wednesday, with the chargers located across NSW, Victoria, Queensland, South Australia, Western Australia and the ACT.

The news comes two days after the Victorian government announced funding for another 214 charging stations across the state and after the Electric Vehicle Council revealed the number of high-power public car chargers had risen 57 per cent over the past year.

Tesla's announcement could make a major impact on electric vehicle adoption in Australia, where rising sales figures have given way to concerns about the availability of charging infrastructure.

The pilot expansion will open 11 Superchargers in NSW, with locations including Tenterfield and Campbelltown, 10 locations in Victoria, including Bendigo and Mornington, three locations in Queensland and South Australia, two in Western Australia and one in Canberra.

Any vehicle with a compatible CCS plug can be charged at one of the Tesla sites, though non-Tesla vehicles incur higher costs at 79 cents per kilowatt hour.

The company's move follows a smaller test in January this year that saw five Supercharger locations in NSW open to non-Tesla vehicles.

The American brand, which dominates electric vehicle sales in Australia, initially opened parts of its charging network to other brands overseas in November 2021 to fuel a faster infrastructure expansion.

"It's always been our ambition to open the Supercharger network to non-Tesla EVs and by doing so encourage more drivers to go electric," the company said.

"Our goal is to learn and iterate quickly while continuing to aggressively expand the network so we can eventually welcome both Tesla and non-Tesla drivers at every Supercharger worldwide."

Tesla currently operates Superchargers in 63 locations across Australia, offering power from renewable sources.

The brand's announcement comes two days after the Victorian government revealed plans to fund another 214 charging points across the state, in addition to 116 charging sites already underway.

Victorian Climate Action Minister Lily D'Ambrosio said the projects, led by Jet Charge, were designed to help the state see electric vehicles represent 50 per cent of new car sales by 2030.

The Electric Vehicle Council also found fast and ultra-fast car chargers had grown significantly in Australia, with 967 high-power public charging stations in the country by the end of June - an increase of 57 per cent in the past year.

NSW led adoption of fast and ultra-fast chargers, with 174 locations, followed by Victoria with 129 and Queensland with 109 places.

© AAP 2023