The annual food price inflation in Australia was at 0.7 percent in the June quarter of 2021, unchanged from the prior period and remaining the lowest figure since the second quarter of 2018, amid declines in prices of pork (-0.4 percent vs 1.9 percent in Q1), eggs (-1.5 percent vs 0.9 percent), cheese (-1 percent vs 0.1 percent), dairy & related products (-0.5 percent vs 0.4 percent), food products n.e.c (-1.5 percent vs 0.3 percent), cakes & biscuits (-0.3 percent vs 0.3 percent), other cereal products (-6.4 percent vs -1.6 percent), oils and fats (-0.8 percent vs 0.7 percent), and jams, honey, and spreads (-0.4 percent vs 1.5 percent). In contrast, cost went up for both fruits & vegetables (2.6 percent vs -3.1 percent), and beef and veal (13.5 percent vs 8.4 percent). source: Australian Bureau of Statistics
Food Inflation in Australia averaged 5.16 percent from 1973 until 2021, 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 July of 2021.
Food Inflation in Australia is expected to be 2.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Food Inflation is projected to trend around 2.30 percent in 2022, according to our econometric models.