A stronger-than-expected inflation reading on Wednesday could postpone any rate relief when the central bank meets the following week.
The data will give the Reserve Bank a better sense of the pressures on Australia's economy ahead of the board's meeting in the first week of November.
Economists predict headline inflation to increase to around three per cent, up from the last quarterly reading of 2.1 per cent.
Banks are split on changes to underlying inflation, which is the RBA's preferred measure as it strips out volatile items like power prices.
Some experts believe that figure will remain steady, while others think it will tick up slightly.
Either way, Commonwealth Bank head of Australian economics Belinda Allen said the data would likely force the central bank to delay cutting interest rates until early 2026.
"We're still of the view that they will remain cautious and wait for further data before cutting the cash rate again," she told AAP.
A glimpse of where the bank could go could come on Monday, when RBA governor Michele Bullock addresses an Association of Business Economists dinner.
Ms Allen said price rises had been particularly strong in the services sector, including health, education and insurance businesses.
That uptick was driven by either stronger demand from consumers which allowed businesses to hike their prices, or an uptick in wage growth, Ms Allen said.
But she said the RBA would be much more likely to cut rates if Wednesday's figures showed a drop in inflation.
Other economists still believe a cut is more likely than not.
The bank has cut the cash rate three times since the start of 2025, from 4.35 per cent to 3.6 per cent, taking some pressure off households after dramatic hikes at the end of the COVID-19 pandemic.
Wall Street investors are meanwhile eyeing cooler-than-expected inflation data and upbeat corporate earnings which lifted major US stock indexes to all-time closing highs.
The boost sets the stage for next week's earnings reports and an expected interest rate cut by the Federal Reserve.
The Dow Jones Industrial Average rose 472.51 points, or 1.01 per cent, to 47,207.12 in New York on Friday, the S&P 500 gained 53.25 points, or 0.79 per cent, to 6,791.69 and the Nasdaq Composite gained 263.07 points, or 1.15 per cent, to 23,204.87.
Australian share futures gained 26 points, or 0.28 per cent, to 7.656.
The S&P/ASX200 slipped 13.8 points on Friday, down 0.15 per cent to 9,019, as the broader All Ordinaries fell 11.9 points, or 0.13 per cent, to 9,317.2.
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