The annual food price inflation in Australia eased to 2.3 percent in the fourth quarter of 2020 from 3.4 percent in the previous period. This was the lowest figure since the September quarter 2019, as prices slowed for pork (3.2 percent vs 7.8 percent in Q3), eggs (1.9 percent vs 4 percent), cheese (2 percent vs 5.1 percent), dairy & related products (1.8 percent vs 3.1 percent), food products n.e.c (2.3 percent vs 3.1 percent), oils and fats (0.5 percent vs 1 percent), fruits & vegetables (3.3 percent vs 8.9 percent), and jams, honey, and spreads (4.5 percent vs 5.1 percent). In addition, cost fell for cakes & biscuits (-0.8 percent vs 0.8 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 February of 2021.
Food Inflation in Australia is expected to be 3.60 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 2.50 in 12 months time. In the long-term, the Australia Food Inflation is projected to trend around 2.10 percent in 2021 and 2.30 percent in 2022, according to our econometric models.