The annual inflation rate in Australia surged to 5.1% in Q1 of 2022 from 3.5% in Q4, surpassing market estimates of 4.6% and marking the highest reading since the introduction of the Goods and Services Tax in the early 2000s, reflecting soaring fuel prices and surging building cost. Transport prices rose the most since the 1990 Iraqi invasion of Kuwait (13.7% vs 12.5% in Q4), while additional upward pressures came from cost of food and non-alcoholic beverages (4.3% vs 1.9%), alcohol & tobacco (1.8% vs 1.1%), housing (6.7% vs 4%), furnishings (4.9% vs 3.6%), recreation (3% vs 2.1%), health (3.5% vs 3.3%), and insurance & financial services (2.7% vs 2.2%). On a quarterly basis, consumer prices went up 2.1%, the most since Q3 2000, after a 1.3% gain in Q4, mainly due to a jump in cost of new dwellings and fuel. The RBA Trimmed Mean CPI rose by 3.7% yoy, the fastest pace in 12 years, exceeding the midpoint of the central bank’s 2-3% target. Quarter-on-quarter, the index increased 1.4%. source: Australian Bureau of Statistics

Inflation Rate in Australia averaged 4.86 percent from 1951 until 2022, 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 May of 2022.

Inflation Rate in Australia is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Inflation Rate is projected to trend around 2.50 percent in 2023, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Australia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-01-25 12:30 AM Q4 3.5% 3% 3.2% 3.2%
2022-04-27 01:30 AM Q1 5.1% 3.5% 4.6% 4.5%
2022-07-27 01:30 AM Q2 5.1%


Related Last Previous Unit Reference
Inflation Rate 5.10 3.50 percent Mar 2022
Inflation Rate Mom 2.10 1.30 percent Mar 2022
Consumer Price Index CPI 123.90 121.30 points Mar 2022
Core Inflation Rate 3.70 2.60 percent Mar 2022
Core Consumer Prices 122.75 121.10 points Mar 2022
GDP Deflator 107.20 107.36 points Dec 2021
Producer Prices 118.30 116.40 points Mar 2022
Producer Prices Change 4.90 3.70 percent Mar 2022
Export Prices 178.00 150.90 points Mar 2022
Import Prices 126.60 120.50 points Mar 2022
Food Inflation 4.30 1.90 percent Mar 2022
CPI Transportation 121.50 116.60 points Mar 2022
CPI Housing Utilities 129.00 125.60 points Mar 2022

Australia Inflation Rate
In Australia, the most important categories in the consumer price index are housing (22.3 percent of the total weight), food and non–alcoholic beverages (16.8 percent), recreation and culture (12.6 percent), transport (11.6 percent), furnishings, household equipment and services (9.1 percent), alcohol and tobacco (7.1 percent), health (5.3 percent) and insurance and financial services (5.1 percent). Clothing and footwear, education and communication account for remaining 10.2 percent of total weight.
Actual Previous Highest Lowest Dates Unit Frequency
5.10 3.50 23.90 -1.30 1951 - 2022 percent Quarterly
2011/2012=100

News Stream
Australia Q1 Inflation Rate Jumps to 2 Decade-High
The annual inflation rate in Australia surged to 5.1% in Q1 of 2022 from 3.5% in Q4, surpassing market estimates of 4.6% and marking the highest reading since the introduction of the Goods and Services Tax in the early 2000s, reflecting soaring fuel prices and surging building cost. Transport prices rose the most since the 1990 Iraqi invasion of Kuwait (13.7% vs 12.5% in Q4), while additional upward pressures came from cost of food and non-alcoholic beverages (4.3% vs 1.9%), alcohol & tobacco (1.8% vs 1.1%), housing (6.7% vs 4%), furnishings (4.9% vs 3.6%), recreation (3% vs 2.1%), health (3.5% vs 3.3%), and insurance & financial services (2.7% vs 2.2%). On a quarterly basis, consumer prices went up 2.1%, the most since Q3 2000, after a 1.3% gain in Q4, mainly due to a jump in cost of new dwellings and fuel. The RBA Trimmed Mean CPI rose by 3.7% yoy, the fastest pace in 12 years, exceeding the midpoint of the central bank’s 2-3% target. Quarter-on-quarter, the index increased 1.4%.
2022-04-27
Australia Q4 Inflation Rate Tops Forecasts
The annual inflation rate in Australia rose to 3.5% in Q4 2021 from a 3.0% in Q3 and above market estimates of 3.2%, boosted by rising fuel prices, global supply chain issues, material shortages, and increased demand ahead of the Christmas holiday. Main upward pressure came from transport (12.5% vs 10.4% in Q3), food and non-alcoholic beverages (1.9% vs 1.3%), alcohol & tobacco (1.1% vs 4.4%), housing (4% vs 1.6% ), furnishings (3.6% vs 6.0%), recreation (2.1% vs 2.3%), health (3.3% vs 4.9%), and insurance & financial services (2.2% vs 1.1%). At the same time, cost of communication fell less (-0.5% vs -1.0%). On a quarterly basis, consumer prices went up 1.3% in Q4, the most in 5 quarters and after a 0.8% gain in Q3, due to a jump in cost of new dwellings and automotive fuel. RBA Trimmed Mean CPI went up 2.6% yoy, the most in 7-1/2 years, exceeding the midpoint of the central bank’s 2-3% target for the first time since June 2014. Quarter-on-quarter, the index increased 1%.
2022-01-25
Australia Q3 Inflation Rate Eases More than Expected
The annual inflation rate in Australia fell to 3.0% in Q3 2021 from a 12-1/2-year high of 3.8% in Q2 and compared with market estimates of 3.1%, amid continued effects of the unwinding of free childcare in 2020. Prices slowed for transport (10.4% vs 10.7% in Q2), alcohol & tobacco (4.4% vs 6.7%), furnishings (6.0% vs 16.9%), and recreation (2.3% vs 2.5%). At the same time, cost of communication fell further (-1.0% vs -1.3%). In contrast, prices went up faster for food (1.3% vs 0.7%), health (4.9% vs 4.8%), and insurance & financial services (1.1% vs 0.6%). Also, housing prices rose 1.6% after a 0.2% fall in Q2. On a quarterly basis, consumer prices went up 0.8% in Q3, the same as in Q2, on rising construction input cost due to supply disruptions and higher automotive fuel prices with the CPI's automotive fuel series hitting its highest in a half-century. RBA Trimmed Mean CPI rose 2.1% yoy in Q3, the most since Q4 2015, after a 1.6% rise in Q2.Quarter-on-quarter, the index rose 0.7%.
2021-10-27