The statistic shows the inflation rate in Australia from 1987 to 2022, with projections up until 2029. The inflation rate is calculated using the price increase of a defined product basket. This product basket contains products and services, on which the average consumer spends money throughout the year. They include expenses for groceries, clothes, rent, power, telecommunications, recreational activities and raw materials (e.g. gas, oil), as well as federal fees and taxes. In 2022, the average inflation rate in Australia was at about 6.61 percent compared to the previous year.

Australia's economy

Australia has one of the world’s largest economies and is a significant global importer and exporter. It is also labeled as one of the G20 countries, also known as the Group of Twenty, which consists of 20 major economies around the globe. The Australian economy is highly dependent on its mining sector as well as its agricultural sector in order to grow, and it exports the majority of these goods to eastern Asian countries, most prominently China. Large quantities of exports have helped Australia maintain a stable economy and furthered economic expansion, despite being affected by several economic obstacles.

Australia’s GDP has seen a significant increase over the past decade, more than doubling its value, and experienced a rather quick recovery from the 2008 financial crisis, which indicates that the country experienced economic growth as well as higher productivity. One of the primary reasons is the further development of the nation’s mining industry coupled with the expansion and success of many Australian mining companies.

In 2020, the GDP shrunk by 2.4 percent in Australia, and inflation was at an all-time low at 0.9 percent over the last 20 years. In 2021, the GDP is predicted to grow by 4.5 percent, and inflation to grow by 1.7 percent. According to the forecast, the Gross Domestic Product and inflation will grow weakly over the next five years in Australia.

Australia Inflation:(GDP) Gross Domestic ProductDeflator data was reported at 6.512 % in 2023. This records a decrease from the previous number of 7.176 % for 2022. Australia Inflation:(GDP) Gross Domestic ProductDeflator data is updated yearly, averaging 3.825 % from Dec 1961 (Median) to 2023, with 63 observations. The data reached an all-time high of 16.490 % in 1975 and a record low of -0.663 % in 2016. Australia Inflation:(GDP) Gross Domestic ProductDeflator data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.;World Bank national accounts data, and OECD National Accounts data files.;Median;

Inflation Expectations in Australia decreased to 3.60 percent in March from 4.60 percent in February of 2025. This dataset provides - Australia Inflation Expectations- actual values, historical data, forecast, chart, statistics, economic calendar and news.

The inflation rate in Australia was at 4.1 percent as of the fourth quarter of 2023. This was a decline of 3.7 percentage points from the high of 7.8 percent in the fourth quarter of 2022.

Australia Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 7.115 % in 2022. This records an increase from the previous number of 2.801 % for 2021. Australia Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 2.717 % from Dec 1990 (Median) to 2022, with 33 observations. The data reached an all-time high of 7.115 % in 2022 and a record low of -0.605 % in 2016. Australia Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Australia – Table AU.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.;World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.;;

Australia Inflation Nowcast data was reported at 2.462 % in 10 Mar 2025. This records a decrease from the previous number of 2.478 % for 03 Mar 2025. Australia Inflation Nowcast data is updated weekly, averaging 3.912 % from Mar 2021 (Median) to 10 Mar 2025, with 207 observations. The data reached an all-time high of 8.209 % in 30 Jan 2023 and a record low of 0.623 % in 19 Apr 2021. Australia Inflation Nowcast data remains active status in CEIC and is reported by CEIC Data. The data is categorized under Global Database’s Australia – Table AU.CEIC.NC: CEIC Nowcast: Inflation: Headline.

Australia Median Inflation Expectations: Next Year: Market Economists data was reported at 2.500 % in Dec 2024. This records a decrease from the previous number of 2.800 % for Sep 2024. Australia Median Inflation Expectations: Next Year: Market Economists data is updated quarterly, averaging 2.600 % from Sep 1994 (Median) to Dec 2024, with 101 observations. The data reached an all-time high of 4.900 % in Dec 1999 and a record low of 1.700 % in Sep 2020. Australia Median Inflation Expectations: Next Year: Market Economists data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.I065: Inflation Expectation.

Key information about Australia Consumer Price Index CPI growth

• Australia Consumer Price Index (CPI) growth was measured at 2.4 % YoY in Dec 2024, compared with a rate of 2.9 % in the previous quarter.
• Australia Consumer Price Index growth data is updated quarterly, available from Dec 1987 to Dec 2024, with an averaged number of 2.5 % YoY.
• The data reached an all-time high of 8.5 % YoY in Mar 1990 and a record low of -0.3 % YoY in Jun 2020.

This dataset provides values for CORE INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

This dataset provides values for INFLATION EXPECTATIONS reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Graph and download economic data for Consumer Price Index: OECD Groups: All Items Non-Food Non-Energy: Total for Australia (CPGRLE01AUQ657N) from Q2 1971 to Q3 2023 about Australia, core, all items, CPI, inflation, price index, indexes, and price.

Australia Consumer Price Index (CPI): YoY data was reported at 2.568 % in 2026. This records an increase from the previous number of 2.258 % for 2025. Australia Consumer Price Index (CPI): YoY data is updated yearly, averaging 3.286 % from Dec 1961 (Median) to 2026, with 66 observations. The data reached an all-time high of 15.417 % in 1974 and a record low of -0.319 % in 1962. Australia Consumer Price Index (CPI): YoY data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Australia – Table AU.OECD.EO: Consumer and Wholesale Price Index: Forecast: OECD Member: Annual. CPI_YTYPCT- Headline inflation The CPI year-on-year changes is a measure of inflation

Leading Economic Index Australia increased 0.10 percent in February of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Australia Leading Economic Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

In 2022, agriculture contributed around 2.68 percent to the GDP of Australia, 27.48 percent came from industry, and 63.3 percent from the services sector. The same year, the Australian inflation rate, another important key indicator for its economic situation, amounted to 2.82 percent. Why is the inflation rate important?Inflation is the steady increase in price levels for consumer goods and services during a certain timespan. The European Central Bank considers a steady inflation rate of two percent a year beneficial for a stable economy – otherwise a country risks economic hardship. In the worst case, a country can experience either hyperinflation (like Venezuela), which is the rapid increase of prices to a point of economic collapse, or deflation, which is the decrease of prices and devaluation of money that can also lead to economic collapse. Up and down under Australia’s inflation has been clawing itself out of a slump in 2016, when it unceremoniously dropped to 1.25 percent due to falling petrol costs and oil prices. The following year, it recovered instantaneously and soared back to just under two percent, and forecasts see it reaching 2.52 percent by 2021. Australians don’t seem too worried about this outlier, and rightly so, since Australia’s economy is still one of the biggest in the Asia-Pacific region and worldwide.

Services Inflation in Australia decreased to 4.30 percent in the fourth quarter of 2024 from 4.60 percent in the third quarter of 2024. This dataset includes a chart with historical data for Australia Services Inflation.

Graph and download economic data for Consumer Price Index: All Items: Total for Australia (AUSCPALTT01IXNBQ) from Q1 1960 to Q3 2023 about Australia, all items, CPI, price index, indexes, and price.

Australia Inflation Expectations: Consumer: 1 Year Ahead data was reported at 4.223 % in Dec 2024. This records a decrease from the previous number of 4.433 % for Sep 2024. Australia Inflation Expectations: Consumer: 1 Year Ahead data is updated quarterly, averaging 4.074 % from Mar 2016 (Median) to Dec 2024, with 36 observations. The data reached an all-time high of 6.661 % in Jun 2022 and a record low of 3.100 % in Sep 2020. Australia Inflation Expectations: Consumer: 1 Year Ahead data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.I065: Inflation Expectation. Inflation Expectation is measured by the Melbourne Institute Survey of Consumer Inflationary Expectations trimmed mean expected inflation rate for the year ahead; the data are collected monthly and end-quarter observations are shown.

Australia Inflation Target: Upper Limit data was reported at 3.000 % in 2025. This stayed constant from the previous number of 3.000 % for 2024. Australia Inflation Target: Upper Limit data is updated yearly, averaging 3.000 % from Dec 1996 (Median) to 2025, with 30 observations. The data reached an all-time high of 3.000 % in 2025 and a record low of 3.000 % in 2025. Australia Inflation Target: Upper Limit data remains active status in CEIC and is reported by Reserve Bank of Australia. The data is categorized under Global Database’s Australia – Table AU.I001: Consumer Price Index: Inflation Target.

This dataset provides values for INFLATION RATE MOM reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.