The monthly Consumer Price Index (CPI) indicator in Australia climbed by a new peak of 8.4% in the year to December 2022, accelerating from 7.3% in the year to November and beating the market consensus of a 7.6% growth. Upward pressures largely came from the cost of housing (10.1% vs 9.6% in November), namely a 16.0% surge in new dwellings; food and non-alcoholic beverages (9.5% vs 9.4%), with a rise in all sub-categories; transport (7.3% vs 9.0%), namely, automotive fuel (10.8% vs 8.4%); and recreation and culture (14.4% vs 5.8%), boosted by a record high costs of holiday travel and accommodation (29.3%). The monthly CPI indicator, excluding volatile items of fruit, vegetables, and fuel, increased to 8.1% in December from 6.7% in November, the most since December 2018. Inflation remained well above the Reserve Bank of Australia's target range of 2-3%. source: Australian Bureau of Statistics

Monthly CPI Indicator in Australia averaged 2.75 percent from 2018 until 2022, reaching an all time high of 8.40 percent in December of 2022 and a record low of -0.20 percent in May of 2020. This page includes a chart with historical data for Australia Monthly CPI Indicator. Australia Monthly CPI Indicator - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Monthly CPI Indicator in Australia is expected to be 6.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Australia Monthly CPI Indicator



Calendar GMT Actual Previous Consensus TEForecast
2023-01-11 12:30 AM Nov 7.3% 6.9% 7.3% 7.5%
2023-01-25 12:30 AM Dec 8.4% 7.3% 7.6% 7.5%
2023-03-01 12:30 AM Jan 8.4%

Australia Monthly CPI Indicator
In Australia, the Monthly CPI Indicator measures monthly changes in the price of a 'basket' of goods and services which account for a high proportion of expenditure by the CPI population group (i.e. metropolitan households).
Actual Previous Highest Lowest Dates Unit Frequency
8.40 7.30 8.40 -0.20 2018 - 2022 percent Monthly
NSA

News Stream
Australia Monthly CPI Inflation Hits Fresh High
The monthly Consumer Price Index (CPI) indicator in Australia climbed by a new peak of 8.4% in the year to December 2022, accelerating from 7.3% in the year to November and beating the market consensus of a 7.6% growth. Upward pressures largely came from the cost of housing (10.1% vs 9.6% in November), namely a 16.0% surge in new dwellings; food and non-alcoholic beverages (9.5% vs 9.4%), with a rise in all sub-categories; transport (7.3% vs 9.0%), namely, automotive fuel (10.8% vs 8.4%); and recreation and culture (14.4% vs 5.8%), boosted by a record high costs of holiday travel and accommodation (29.3%). The monthly CPI indicator, excluding volatile items of fruit, vegetables, and fuel, increased to 8.1% in December from 6.7% in November, the most since December 2018. Inflation remained well above the Reserve Bank of Australia's target range of 2-3%.
2023-01-25
Australia Monthly CPI Inflation Climbs to 7.3%
The monthly Consumer Price Index (CPI) indicator in Australia increased by 7.3% in the year to November 2022, accelerating from a 6.9% rise in November while resuming to a record-high figure which previously hit in September. The latest reading matched market consensus, with upward price pressures coming from housing (9.6% vs 10.5% in October), amid a 17.9% jump in new dwellings; food and non-alcoholic beverages (9.4% vs 8.9%), with cost rising across all sub-categories; transport (9.0% vs 7.4%), driven by automotive fuel; household equipment and services (8.4% vs 7.8%); and recreation and culture (5.8% vs 2.3%). The monthly CPI indicator excluding volatile items of fruit, vegetables, and fuel, rose to 6.7% in November from 6.4% in October. Inflation remained well above the Reserve Bank of Australia's target range of 2-3%.
2023-01-11
Australia Monthly CPI Inflation Eases to 6.9%
The monthly Consumer Price Index (CPI) indicator in Australia advanced 6.9 percent in the year to October 2022, slowing from September's record high of 7.3% and missing market consensus of 7.4 percent, amid a softer rise in food prices. Cost of food and non-alcoholic beverages increased at a slower rate (8.9 percent vs 9.6 percent), with prices rising across most food categories, led by fruit and vegetables and meat and seafoods. Meanwhile, inflation picked up for both housing (10.5 percent vs 10.3 percent), with rent prices rising to a fresh peak of 3.5 percent from 2.9 percent; and transport (7.4 percent vs 6.8 percent), due to a rise in the excise tax. The monthly CPI indicator excluding volatile items of fruit, vegetables and fuel, eased to 6.4 percent in October from 6.8 percent in September. Inflation remained well above the Reserve Bank of Australia's target range of 2-3 percent.
2022-11-30