Find out how Australians feel about the increasing cost of living in our latest survey, as well as the latest data from the Cost of Living Index in 2024.

The average for 2021 based on 3 countries was 133.76 index points. The highest value was in Australia: 177.41 index points and the lowest value was in Fiji: 67.74 index points. The indicator is available from 2017 to 2021. Below is a chart for all countries where data are available.

Inflation Rate in Australia remained unchanged at 2.40 percent in the first quarter of 2025 from 2.40 percent in the fourth quarter of 2024. This dataset provides the latest reported value for - Australia Inflation Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Consumer Price Index CPI in Australia increased to 140.70 points in the first quarter of 2025 from 139.40 points in the fourth quarter of 2024. This dataset provides - Australia Consumer Price Index (CPI) - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the inflation rate in Australia from 1987 to 2023, with projections up until 2030. 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 2023, the average inflation rate in Australia was at about 5.62 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.

The house price-to-income ratio in Australia was ***** as of the fourth quarter of 2024. This ratio, calculated by dividing nominal house prices by nominal disposable income per head, increased from the previous quarter. The price-to-income ratio can be used to measure housing affordability in a specific area. Australia's property bubble There has been considerable debate over the past decade about whether Australia is in a property bubble or not. A property bubble refers to a sharp increase in the price of property that is disproportional to income and rental prices, followed by a decline. In Australia, rising house prices have undoubtedly been an issue for many potential homeowners, pricing them out of the market. Along with the average house price, high mortgage interest rates have exacerbated the issue. Is the homeownership dream out of reach? Housing affordability has varied across the different states and territories in Australia. In 2024, the median value of residential houses was the highest in Sydney compared to other major Australian cities, with Brisbane becoming an increasingly expensive city. Nonetheless, expected interest rate cuts in 2025, alongside the expansion of initiatives to improve Australia's dwelling stock, social housing supply, and first-time buyer accessibility to properties, may start to improve the situation. These encompass initiatives such as the Australian government's Help to Buy scheme and the Housing Australia Future Fund Facility (HAFFF) and National Housing Accord Facility (NHAF) programs.

As of 2022, Israel had the highest price level index among listed countries, amounting to 138, with 100 being the average of OECD countries. Switzerland and Iceland followed on the places behind. On the other hand, Turkey and India had the lowest price levels compared to the OECD average. This price index shows differences in price levels in different countries. Another very popular index indicating the value of money is the Big Mac index, showing how much a Big Mac costs in different countries. This list was also topped by Switzerland in 2023.

Monthly CPI Indicator in Australia decreased to 2.10 percent in May from 2.40 percent in April of 2025. This dataset includes a chart with historical data for Australia Monthly CPI Indicator.

Portugal, Canada, and the United States were the countries with the highest house price to income ratio in 2024. In all three countries, the index exceeded 130 index points, while the average for all OECD countries stood at 116.2 index points. The index measures the development of housing affordability and is calculated by dividing nominal house price by nominal disposable income per head, with 2015 set as a base year when the index amounted to 100. An index value of 120, for example, would mean that house price growth has outpaced income growth by 20 percent since 2015. How have house prices worldwide changed since the COVID-19 pandemic? House prices started to rise gradually after the global financial crisis (2007–2008), but this trend accelerated with the pandemic. The countries with advanced economies, which usually have mature housing markets, experienced stronger growth than countries with emerging economies. Real house price growth (accounting for inflation) peaked in 2022 and has since lost some of the gain. Although, many countries experienced a decline in house prices, the global house price index shows that property prices in 2023 were still substantially higher than before COVID-19. Renting vs. buying In the past, house prices have grown faster than rents. However, the home affordability has been declining notably, with a direct impact on rental prices. As people struggle to buy a property of their own, they often turn to rental accommodation. This has resulted in a growing demand for rental apartments and soaring rental prices.

At **** U.S. dollars, Switzerland has the most expensive Big Macs in the world, according to the January 2025 Big Mac index. Concurrently, the cost of a Big Mac was **** dollars in the U.S., and **** U.S. dollars in the Euro area. What is the Big Mac index? The Big Mac index, published by The Economist, is a novel way of measuring whether the market exchange rates for different countries’ currencies are overvalued or undervalued. It does this by measuring each currency against a common standard – the Big Mac hamburger sold by McDonald’s restaurants all over the world. Twice a year the Economist converts the average national price of a Big Mac into U.S. dollars using the exchange rate at that point in time. As a Big Mac is a completely standardized product across the world, the argument goes that it should have the same relative cost in every country. Differences in the cost of a Big Mac expressed as U.S. dollars therefore reflect differences in the purchasing power of each currency. Is the Big Mac index a good measure of purchasing power parity? Purchasing power parity (PPP) is the idea that items should cost the same in different countries, based on the exchange rate at that time. This relationship does not hold in practice. Factors like tax rates, wage regulations, whether components need to be imported, and the level of market competition all contribute to price variations between countries. The Big Mac index does measure this basic point – that one U.S. dollar can buy more in some countries than others. There are more accurate ways to measure differences in PPP though, which convert a larger range of products into their dollar price. Adjusting for PPP can have a massive effect on how we understand a country’s economy. The country with the largest GDP adjusted for PPP is China, but when looking at the unadjusted GDP of different countries, the U.S. has the largest economy.

The pandemic dealt a massive blow to the Pubs, Bars and Nightclubs industry. Simultaneously, decreased alcohol consumption, online gambling competition and tighter regulations have added more strain. A severe slump in international travel to Australia because of border restrictions resulted in a substantial loss of income from tourism spending. Industry revenue surged in 2022-23 when pandemic restrictions were lifted and people were eager to socialise again over drinks. However, this respite was short-lived, with cost-of-living pressures over the past two years weighing on discretionary incomes. This trend has shrunk sales of high-end alcoholic drinks and gourmet food offerings. Overall, industry revenue is expected to inch upwards at an annualised 0.8% over the five years through 2024-25 to $20.0 billion, when revenue is anticipated to fall by 2.4%. Declining per capita alcohol consumption has adversely impacted earnings for pubs and clubs. Yet, small-scale bars with refined food and beverage offerings have performed well because of Australia's growing foodie culture and increasingly quality-conscious consumers. In turn, many pubs have enhanced their food and beverage options, with some converting to gastropubs. Limited gambling expenditure have weighed down the industry's bottom line. The initial COVID-19 outbreak caused industry profit margins to decline sharply in 2019-20. However, profitability has since returned to growth in line with higher government payment packages and the easing of restrictions. Industry participation has also grown as new establishments succeed in niche segments like wine bars and gastropubs. Industry revenue is forecast to rise at an annualised 1.0% over the five years through 2029-30 to $21.1 billion. Rising discretionary incomes are set to fuel consumer expenditure on premium alcohol and food options. Ongoing economic recovery from the COVID-19 pandemic and inflationary pressures will also underpin industry expansion. Industry venues are poised to expand their takeaway options to meet changing consumer trends. Likewise, profit margins are to improve marginally as trading returns to normal.

Over the twelve months preceding December 2023 quarter, the Consumer Price Index (CPI) in Australia grew 4.1 percent. This is a drop of 3.7 percent from the previous December. The CPI measures the average change in prices of a fixed basket of goods and services, purchased by household residents in Australia's eight state and territory capital cities.

In 2023, the Consumer Price Index (CPI) in Australia had risen to an all time high of *****points. In Australia, the CPI measures changes in the prices paid by consumers for a basket of goods and services. The CPI in Australia has risen steadily for decades.

The statistic depicts Australia's gross domestic product (GDP) from 1987 to 2024, with projections up until 2030. In 2024, GDP in Australia amounted to about 1.8 trillion US dollars. See global GDP for a global comparison. Australia’s economy and population Australia’s gross domestic product has been growing steadily, and all in all, Australia and its economic key factors show a well-set country. Australia is among the countries with the largest gross domestic product / GDP worldwide, and thus one of the largest economies. It was one of the few countries not severely stricken by the 2008 financial crisis; its unemployment rate, inflation rate and trade balance, for example, were hardly affected at all. In fact, the trade balance of Australia – a country’s exports minus its imports – has been higher than ever since 2010, with a slight dip in 2012. Australia mainly exports wine and agricultural products to countries like China, Japan or South Korea. One of Australia’s largest industries is tourism, which contributes a significant share to its gross domestic product. Almost half of approximately 23 million Australian residents are employed nowadays, life expectancy is increasing, and the fertility rate (the number of children born per woman) has been quite stable. A look at the distribution of the world population by continent shows that Australia is ranked last in terms of population and population density. Most of Australia's population lives at the coast in metropolitan areas, since parts of the continent are uninhabitable. Unsurprisingly, Australia is known as a country with very high living standards, four of its biggest cities – Melbourne, Adelaide, Sydney and Perth – are among the most livable cities worldwide.

Woolworths Group held the largest share of the grocery retail market in Australia as of May 2024, with a share of ** percent. Woolworths' major competitor, Coles Group, came in second with a little over a quarter of the market share. Aldi and IGA remain behind their competitors, with shares of less than ** percent of the market. Growth of online grocery shopping in Australia While physical stores remain the most prevalent grocery shopping channel among Australians, online grocery shopping has gained momentum across Australia recently as consumers and supermarket retailers were forced to adapt to the COVID-19 pandemic. Woolworths and Coles dominate Australia’s online grocery sales, with e-commerce platform Amazon, encompassing Amazon Fresh and Amazon Pantry, the next largest competitor. Grocery price inflation in Australia Price rises continue to be witnessed across many grocery product categories in Australia, with fruit and vegetables accounting for the largest annual price increase in the year to March 2025. As a result of rising grocery costs, an increasing number of Australian households cite grocery expenses as a major source of stress. To lessen the impact of cost-of-living pressures, many shoppers are adopting strategies to reduce their grocery bills, such as cutting back on non-essentials, switching to cheaper brands, shopping across various stores, and using coupons when shopping.

Woolworths Group recognized a net profit after tax (NPAT) of **** billion Australian dollars in the 2024 financial year. This represented a marginal decline from the previous year, in which an NPAT of just over **** billion Australian dollars was recorded. The highest NPAT recorded within the given period was in 2015. Woolworths Group in Australia Headquartered in Sydney, Australia, Woolworths Group is Australia’s largest supermarket retailer and one of the country’s top 20 leading companies by market cap. The company holds the largest share of the grocery retail market in Australia, followed by supermarket rival Coles Group. Woolworths Group’s food sales in Australia witnessed a year-on-year increase from 2016 to 2024, with over ** billion Australian dollars in sales in 2024. Grocery shopping in Australia As of 2024, New South Wales was home to the highest number of operating supermarkets and grocery stores in Australia, followed by Victoria. Following year-on-year growth over the past decade, the annual revenue of supermarkets and grocery stores peaked in 2024. Nonetheless, due to grocery price inflation, consumers are trying to cut back on grocery spending by switching to cheaper brands and shopping during sales. Grocery expenses were named as one of the most significant contributors to cost of living pressures among consumers across the country.

Humans have been living on the continent of Australia (name derived from "Terra Australis"; Latin for "the southern land") for approximately 65,000 years, however population growth was relatively slow until the nineteenth century. Europeans had made some contact with Australia as early as 1606, however there was no significant attempt at settlement until the late eighteenth century. By 1800, the population of Australia was approximately 350,000 people, and the majority of these were Indigenous Australians. As colonization progressed the number of ethnic Europeans increased while the Australian Aboriginal population was decimated through conflict, smallpox and other diseases, with some communities being exterminated completely, such as Aboriginal Tasmanians. Mass migration from Britain and China After the loss of its American colonies in the 1780s, the British Empire looked to other parts of the globe to expand its sphere of influence. In Australia, the first colonies were established in Sydney, Tasmania and Western Australia. Many of these were penal colonies which became home to approximately 164,000 British and Irish convicts who were transported to Australia between 1788 and 1868. As the decades progressed, expansion into the interior intensified, and the entire country was claimed by Britain in 1826. Inland colonization led to further conflict between European settlers and indigenous Australians, which cost the lives of thousands of natives. Inward expansion also saw the discovery of many natural resources, and most notably led to the gold rushes of the 1850s, which attracted substantial numbers of Chinese migrants to Australia. This mass migration from non-European countries eventually led to some restrictive policies being introduced, culminating with the White Australia Policy of 1901, which cemented ethnic-European dominance in Australian politics and society. These policies were not retracted until the second half of the 1900s. Independent Australia Australia changed its status to a British dominion in 1901, and eventually became independent in 1931. Despite this, Australia has remained a part of the British Commonwealth, and Australian forces (ANZAC) fought with the British and their Allies in both World Wars, and were instrumental in campaigns such as Gallipoli in WWI, and the South West Pacific Theater in WWII. The aftermath of both wars had a significant impact on the Australian population, with approximately 90 thousand deaths in both world wars combined, as well as 15 thousand deaths as a result of the Spanish flu pandemic following WWI, although Australia experienced a significant baby boom following the Second World War. In the past fifty years, Australia has promoted immigration from all over the world, and now has one of the strongest economies and highest living standards in the world, with a population that has grown to over 25 million people in 2020.

Coffee came out on top as the most regularly consumed beverage in Australia as of December 2024, with over 60 percent of respondents frequently enjoying the hot drink. While coffee outpaces other beverages like soft drinks, including cola, lemonade, and iced tea, as well as tea and juice, they are also prevalent options among Australian consumers surveyed. Which caffeinated brews are Australia’s favorites? The popularity of coffee is not surprising, given that the country has a deep-rooted coffee culture, with around three-quarters of Australians enjoying at least one cup of coffee daily and some indulging in three or more cups a day. When it comes to preferences for their caffeine boost, cappuccinos top the list as Australia's favorite caffeinated beverage. Other milk-based coffee brews, such as lattes and flat whites, were also popular choices, while Mochas and Americanos were the least popular. Is the country’s café culture changing? Australia’s coffee culture extends beyond the beverage itself to the country’s extensive coffee shop network, from international chains such as McCafé and Starbucks to local franchises including The Coffee Club and Zarraffa’s. Nonetheless, despite the country’s love for coffee, cost of living pressures have impacted consumption habits, with several Australian adults reporting reduced expenditure on takeout coffee at cafés. To adapt their caffeine needs in line with inflation, several consumers are investing in coffee machines to save money through homemade brews.