The annual inflation rate in Australia unexpectedly was at 0.9% in Q4 2020, compared with market consensus and the prior quarter's figure of 0.7%. This was the highest reading in three quarters, amid a rise in tobacco excise and the introduction, continuation, and conclusion of childcare fee subsidies and home building grants. Prices increased faster for both alcohol & tobacco (9.3% vs 8.1% in Q3) and education (2.1% vs 1% ). Also, there were rises in cost of food (2.3% vs 3.4%), furnishings & household equipment (3.6% vs -0.1%), and insurance & financial services (1.2% vs 1.6%). At the same time, cost of recreation & culture was flat (vs -0.7%). In contrast, cost fell further for housing(-0.9% vs -0.2%), transport (-4.6% vs -4%), clothing & footwear (-1.3% vs -0.5%), and communication (-2.7% vs -3.3%). On a quarterly basis, consumer prices also went up by 0.9%, after a 1.6% gain in Q3 and above forecasts of a 0.7% gain. source: Australian Bureau of Statistics

Inflation Rate in Australia averaged 4.89 percent from 1951 until 2020, reaching an all time high of 23.90 percent in the fourth quarter of 1951 and a record low of -1.30 percent in the second quarter of 1962. This page 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. Australia Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in Australia is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Australia to stand at 2.60 in 12 months time. In the long-term, the Australia Inflation Rate is projected to trend around 2.10 percent in 2022, according to our econometric models.

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Australia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.90 0.70 23.90 -1.30 1951 - 2020 percent Quarterly
2011/2012=100


Calendar GMT Actual Previous Consensus TEForecast
2020-04-29 01:30 AM Q1 2.2% 1.8% 2% 1.9%
2020-07-29 01:30 AM Q2 -0.3% 2.2% -0.4% -0.6%
2020-10-28 12:30 AM Q3 0.7% -0.3% 0.7% 0.6%
2021-01-27 12:30 AM Q4 0.9% 0.7% 0.7% 0.8%
2021-04-28 01:30 AM Q1 1%
2021-07-29 01:30 AM Q2 1.5%
2021-10-28 12:30 AM Q3 3.6%


News Stream
Australia Q4 Inflation Rate Unexpectedly Rises
The annual inflation rate in Australia unexpectedly was at 0.9% in Q4 2020, compared with market consensus and the prior quarter's figure of 0.7%. This was the highest reading in three quarters, amid a rise in tobacco excise and the introduction, continuation, and conclusion of childcare fee subsidies and home building grants. Prices increased faster for both alcohol & tobacco (9.3% vs 8.1% in Q3) and education (2.1% vs 1% ). Also, there were rises in cost of food (2.3% vs 3.4%), furnishings & household equipment (3.6% vs -0.1%), and insurance & financial services (1.2% vs 1.6%). At the same time, cost of recreation & culture was flat (vs -0.7%). In contrast, cost fell further for housing(-0.9% vs -0.2%), transport (-4.6% vs -4%), clothing & footwear (-1.3% vs -0.5%), and communication (-2.7% vs -3.3%). On a quarterly basis, consumer prices also went up by 0.9%, after a 1.6% gain in Q3 and above forecasts of a 0.7% gain.
2021-01-27
Australia Returns to Inflation in Q3
Consumer prices in Australia rose by 0.7% year-on-year in the third quarter of 2020, after a 0.3% fall in the previous period and in line with market consensus, amid the reopening of the economy from the COVID-19 lockdown. Cost of education rebounded (1% vs -1% in Q2), as free childcare ended on July 13th. Additionally, prices fell less for transport (-4% vs -7.5%); furnishings & household equipment (-0.1% vs -9.8%); and communication (-3.3% vs -3.6%). On the other hand, prices slowed for food (3.4% vs 4.1%); alcohol & tobacco (8.1% vs 8.4%); and insurance & financial services (1.6% vs 1.7%). Also, cost of housing (-0.2% vs 0.1%); and clothing & footwear (-0.5% vs 0.5%) dropped. In addition, prices of recreation & culture declined at a faster pace (-0.7% vs -0.3%). On a quarterly basis, consumer prices went up by 1.6%, rebounding from a 1.9% decrease in the prior period and above forecasts of a 1.5% gain.
2020-10-28
Australia Q2 Consumer Prices Fall for First Time Since 1997
Consumer prices in Australia dropped by 0.3% year-on-year in Q2 2020, compared with market consensus of a 0.4% fall and after a 2.2% rise in Q1. This was the first decline in consumer prices since Q3 1997, as the economy struggled to contain the COVID-19. Transport prices fell for the first time since Q4 2016 (-7.5% vs 2.6% in Q1), while cost of furnishings dropped for first time in four quarters (-9.8% vs 2.2%). Also, cost of communication fell further (-3.6% vs -3.4%), with prices of recreation down for first time since Q2 2017 (-0.3% vs 1.3%), and those of education declining for the first time on record (-1% vs 2.7%). Meanwhile, cost slowed for both housing (0.1% vs 0.6%) and clothing (0.5% vs 2%). Food prices jumped to a near 9-year high of 4.1% (vs 3.2%). Also, cost rose further for both alcohol & tobacco (8.4% vs 7.9%) and insurance & financial services (1.7% vs 1.6%). On a quarterly basis, consumer prices dropped 1.9% in Q2, the largest quarterly fall in history.
2020-07-29
Australia Q1 Inflation Rate Hits 5-1/2-Year High
The annual inflation rate in Australia rose to 2.2% in Q1 2020 from 1.8% in Q4, above market expectations of 2%. It was the highest inflation rate since Q3 2014 and the first time it reached the RBA target band since early 2018, reflecting the impact of drought and bushfires and early effects of COVID-19. Food prices jumped to 5-1/2- year high of 3.2% (vs 2.6% in Q4), of which beef & veal (8.8%), pork (8.5%), eggs (6%) and vegetables (5.1%). Also, prices rose further for housing (0.6% vs 0.2%); furnishings & household equipment (2.2% vs 1.1%); clothing (2% vs 1.4%); alcohol & tobacco (7.9% vs 6.5%); and insurance & financial services (1.6% vs 0.7%). In addition, cost of communication fell less (-3.4% vs -3.8%). Meanwhile, cost slowed for recreation & culture (1.3% vs 1.5%); transport (2.6% vs 2.8%); health (2.9% vs 3.2%); and education (2.7% vs 2.9%). On a quarterly basis, consumer prices increased by 0.3% in Q1, the least in a year, after a 0.7% gain in Q4.
2020-04-29

Australia Inflation Rate
In Australia, the most important categories in the consumer price index are housing (22.3 percent of the total weight), food and non–alcoholic beverages (16.8 percent), recreation and culture (12.6 percent), transport (11.6 percent), furnishings, household equipment and services (9.1 percent), alcohol and tobacco (7.1 percent), health (5.3 percent) and insurance and financial services (5.1 percent). Clothing and footwear, education and communication account for remaining 10.2 percent of total weight.