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.

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.

2022 and 2023 saw inflation rates rise all over the world, especially spurred by effects of the COVID-19 pandemic and Russia's invasion of Ukraine. With its hyperinflation, Argentina was predicted to have the highest inflation rate of the countries included here both in 2023, 2024, and 2025. On the other hand, China's inflation rate was estimated to only reach one percent in 2024.

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.

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

In January 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 21 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at 0.5 percent in January 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

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

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

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 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.

The benchmark interest rate in Australia was last recorded at 4.10 percent. This dataset provides - Australia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Australia Consumer Price Index (CPI): MoM data was reported at -0.240 % in Jan 2025. This records a decrease from the previous number of 0.805 % for Dec 2024. Australia Consumer Price Index (CPI): MoM data is updated monthly, averaging 0.283 % from Oct 2017 (Median) to Jan 2025, with 88 observations. The data reached an all-time high of 1.654 % in Jul 2020 and a record low of -1.240 % in Apr 2020. Australia Consumer Price Index (CPI): MoM data remains active status in CEIC and is reported by Australian Bureau of Statistics. The data is categorized under Global Database’s Australia – Table AU.I002: Consumer Price Index: Sep 2017=100: Monthly.

The statistic shows the growth rate of Australia’s real GDP from 2019 to 2023, with projections up until 2029. In 2023, GDP in Australia grew by about 2.06 percent on the previous year.

The recession-proof land down under

GDP is one of the primary indicators used to gauge the state and health of a country’s economy. It is the total market value of all final goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to understand a country’s economy in a clear way. Real GDP, in a similar vein, is also a very useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, therefore acting as a key indicator for economic growth.

The gross domestic product (GDP) growth rate in Australia has, for sometime, been able to get a steady foothold in the somewhat shaky post-recession world, shaky, but far from catastrophic. The annual growth rate between the 2008 and 2009 financial years, for example, a time at which the world was brought to its proverbial knees, saw growth rates down under reach to 2.49 and 1.37 percent respectively on the previous years, whereas the GDP growth rate in the United States plummeted well into the minus zone. Australia, like all other capitalist nations, is at the mercy of international markets, and when the world economy takes a hit, it would be foolish to suggest it could emerge fully unscathed. However, Australia has earned some much deserved praise and attention owing to the fact that it has managed to remain recession-free for the past twenty years. This could be thanks to its abundance of raw materials, the Australian mining boom, the fact the recession came at a time of high commodity prices and, maybe most importantly, that just under a third of its exports go to China.

Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index data was reported at 45.147 % in 27 Jan 2025. This records an increase from the previous number of 36.371 % for 20 Jan 2025. Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index data is updated weekly, averaging 0.661 % from Oct 2021 (Median) to 27 Jan 2025, with 171 observations. The data reached an all-time high of 55.072 % in 16 Jan 2023 and a record low of 0.000 % in 21 Nov 2022. Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index 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 Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index: Wholesale Trade data was reported at 0.001 % in 27 Jan 2025. This records a decrease from the previous number of 0.007 % for 20 Jan 2025. Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index: Wholesale Trade data is updated weekly, averaging 0.109 % from Oct 2021 (Median) to 27 Jan 2025, with 171 observations. The data reached an all-time high of 23.240 % in 24 Apr 2023 and a record low of 0.000 % in 02 Sep 2024. Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index: Wholesale Trade 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.

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.

Inflation Nowcast: Contribution: Supply Chain: Port Calls: Arrivals: Australia data was reported at 0.002 % in 27 Jan 2025. This records an increase from the previous number of 0.001 % for 20 Jan 2025. Inflation Nowcast: Contribution: Supply Chain: Port Calls: Arrivals: Australia data is updated weekly, averaging 0.031 % from Oct 2021 (Median) to 27 Jan 2025, with 171 observations. The data reached an all-time high of 38.018 % in 10 Jan 2022 and a record low of 0.000 % in 11 Nov 2024. Inflation Nowcast: Contribution: Supply Chain: Port Calls: Arrivals: Australia 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 Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index: Retail Trade data was reported at 0.022 % in 27 Jan 2025. This records a decrease from the previous number of 0.033 % for 20 Jan 2025. Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index: Retail Trade data is updated weekly, averaging 0.011 % from Oct 2021 (Median) to 27 Jan 2025, with 171 observations. The data reached an all-time high of 61.437 % in 29 Jan 2024 and a record low of 0.000 % in 06 May 2024. Australia Inflation Nowcast: Contribution: Labour Market: Employee Jobs Index: Retail Trade 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 Inflation Nowcast: Contribution: Balance Sheet: RBA: Assets: Other Assets incl Clearing Items data was reported at 0.620 % in 03 Mar 2025. This records an increase from the previous number of 0.000 % for 24 Feb 2025. Australia Inflation Nowcast: Contribution: Balance Sheet: RBA: Assets: Other Assets incl Clearing Items data is updated weekly, averaging 0.492 % from Mar 2021 (Median) to 03 Mar 2025, with 206 observations. The data reached an all-time high of 10.480 % in 19 Feb 2024 and a record low of 0.000 % in 24 Feb 2025. Australia Inflation Nowcast: Contribution: Balance Sheet: RBA: Assets: Other Assets incl Clearing Items 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.