The monthly consumer price index is expected to come in a little stronger in August after pulling back sharply in July.
The Australian Bureau of Statistics monthly indicator recorded a convincing slowdown in inflation to 4.9 per cent from 5.4 per cent in June.
The bureau will release the August numbers on Wednesday.
Treasurer Jim Chalmers said the monthly figures could bounce around month to month.
"The big picture is that inflation is moderating in welcome ways, although we'd like it to moderate faster," he said.
High fuel prices are the latest hiccup in the fight against inflation, with petrol lifting around eight per cent in August and diesel up more than 12 per cent.
St George Bank chief economist Besa Deda said the annual rate of inflation through to August would likely move higher to 5.2 per cent to reflect higher prices at the pump.
Cuts by major producers and higher-than-usual demand have been pushing up oil prices.
Ms Deda said the re-acceleration in oil prices posed a fresh challenge for central banks.
"Rising oil prices means rising fuel costs, which add to inflationary pressures and weigh on economic activity," the economist said.
She also said fuel prices were an important driver of inflation expectations.
"There's a risk that oil prices hover around the current elevated levels for the remainder of this year, but the slowdown in economic activity, including concerns around China's recovery, should see a weakening trajectory next year," Ms Deda added.
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