The annual food price inflation in Australia eased to 0.7 percent in the first quarter of 2021 from 2.3 percent in the previous period. This was the lowest figure since the June quarter 2018, as prices slowed for pork (1.9 percent vs 3.2 percent in Q4), eggs (0.9 percent vs 1.9 percent), cheese (0.1 percent vs 2 percent), dairy & related products (0.4 percent vs 1.8 percent), food products n.e.c (0.3 percent vs 2.3 percent), cakes & biscuits (0.3 percent vs -0.8 percent), and jams, honey, and spreads (1.5 percent vs 4.5 percent). At the same time, cost fell for fruits & vegetables (-3.1 percent vs 3.3 percent), and other cereal products (-1.6 percent vs 5.6 percent). By contrast, prices increased faster for both oils and fats (0.7 percent vs 0.5 percent), and beef and veal (8.4 percent vs 8.1 percent). source: Australian Bureau of Statistics
Food Inflation in Australia averaged 5.23 percent from 1973 until 2020, reaching an all time high of 20.60 percent in the fourth quarter of 1973 and a record low of -3.20 percent in the second quarter of 2012. This page provides - Australia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Food Inflation - values, historical data and charts - was last updated on June of 2021.
Food Inflation in Australia is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Food Inflation in Australia to stand at 2.00 in 12 months time. In the long-term, the Australia Food Inflation is projected to trend around 2.30 percent in 2022, according to our econometric models.