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 1.90 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.