The annual inflation rate in Australia rose to 1.1% in Q1 2021 from 0.9% in Q4 and compared with market consensus of 1.4%. This was the highest reading since Q1 2020, amid a rise in tobacco excise; resetting of the Medicare and Pharmaceutical Benefits; the introduction, continuation, and conclusion of a number of government schemes; and home building grants. Prices increased for food (0.7% vs 2.3% in Q4), alcohol & tobacco (7.9% vs 9.3%), furnishings (2.7% vs 3.6%), health (3% vs 2.6%), transport (0.4% vs -4.6%), recreation (1.5% vs flat reading), and insurance & financial services (0.6% vs 1.2%). In contrast, cost fell further for housing(-1.1% vs -0.9%), education (-0.1% vs 2.1%), and communication (-1.9% vs -2.7%). On a quarterly basis, consumer prices went up 0.6%, the least in three quarters, below forecasts of 0.9%. RBA Trimmed Mean CPI rose 1.1% yoy in Q1, the least on record, after a 1.2% rise in Q4. Quarter-on-quarter, the index rose 0.3% after gaining 0.4% in Q4. source: Australian Bureau of Statistics

Inflation Rate in Australia averaged 4.88 percent from 1951 until 2021, 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 July of 2021.

Inflation Rate in Australia is expected to be 4.00 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 2.30 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.

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Australia Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.10 0.90 23.90 -1.30 1951 - 2021 percent Quarterly
2011/2012=100


Calendar GMT Actual Previous Consensus TEForecast
2020-07-29 01:30 AM Q2 -0.3% 2.2% -0.4% -0.6%
2020-10-28 12:30 AM Q3 0.7% -0.3% 0.7% 0.6%
2021-01-27 12:30 AM Q4 0.9% 0.7% 0.7% 0.8%
2021-04-28 01:30 AM Q1 1.1% 0.9% 1.4% 1.5%
2021-07-28 01:30 AM Q2 1.1% 3.8% 4%
2021-10-28 12:30 AM Q3 2.8%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Australia Q1 Inflation Rate Highest in a Year
The annual inflation rate in Australia rose to 1.1% in Q1 2021 from 0.9% in Q4 and compared with market consensus of 1.4%. This was the highest reading since Q1 2020, amid a rise in tobacco excise; resetting of the Medicare and Pharmaceutical Benefits; the introduction, continuation, and conclusion of a number of government schemes; and home building grants. Prices increased for food (0.7% vs 2.3% in Q4), alcohol & tobacco (7.9% vs 9.3%), furnishings (2.7% vs 3.6%), health (3% vs 2.6%), transport (0.4% vs -4.6%), recreation (1.5% vs flat reading), and insurance & financial services (0.6% vs 1.2%). In contrast, cost fell further for housing(-1.1% vs -0.9%), education (-0.1% vs 2.1%), and communication (-1.9% vs -2.7%). On a quarterly basis, consumer prices went up 0.6%, the least in three quarters, below forecasts of 0.9%. RBA Trimmed Mean CPI rose 1.1% yoy in Q1, the least on record, after a 1.2% rise in Q4. Quarter-on-quarter, the index rose 0.3% after gaining 0.4% in Q4.
2021-04-28
Australia Q4 Inflation Rate Unexpectedly Rises
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.
2021-01-27
Australia Returns to Inflation in Q3
Consumer prices in Australia rose by 0.7% year-on-year in the third quarter of 2020, after a 0.3% fall in the previous period and in line with market consensus, amid the reopening of the economy from the COVID-19 lockdown. Cost of education rebounded (1% vs -1% in Q2), as free childcare ended on July 13th. Additionally, prices fell less for transport (-4% vs -7.5%); furnishings & household equipment (-0.1% vs -9.8%); and communication (-3.3% vs -3.6%). On the other hand, prices slowed for food (3.4% vs 4.1%); alcohol & tobacco (8.1% vs 8.4%); and insurance & financial services (1.6% vs 1.7%). Also, cost of housing (-0.2% vs 0.1%); and clothing & footwear (-0.5% vs 0.5%) dropped. In addition, prices of recreation & culture declined at a faster pace (-0.7% vs -0.3%). On a quarterly basis, consumer prices went up by 1.6%, rebounding from a 1.9% decrease in the prior period and above forecasts of a 1.5% gain.
2020-10-28
Australia Q2 Consumer Prices Fall for First Time Since 1997
Consumer prices in Australia dropped by 0.3% year-on-year in Q2 2020, compared with market consensus of a 0.4% fall and after a 2.2% rise in Q1. This was the first decline in consumer prices since Q3 1997, as the economy struggled to contain the COVID-19. Transport prices fell for the first time since Q4 2016 (-7.5% vs 2.6% in Q1), while cost of furnishings dropped for first time in four quarters (-9.8% vs 2.2%). Also, cost of communication fell further (-3.6% vs -3.4%), with prices of recreation down for first time since Q2 2017 (-0.3% vs 1.3%), and those of education declining for the first time on record (-1% vs 2.7%). Meanwhile, cost slowed for both housing (0.1% vs 0.6%) and clothing (0.5% vs 2%). Food prices jumped to a near 9-year high of 4.1% (vs 3.2%). Also, cost rose further for both alcohol & tobacco (8.4% vs 7.9%) and insurance & financial services (1.7% vs 1.6%). On a quarterly basis, consumer prices dropped 1.9% in Q2, the largest quarterly fall in history.
2020-07-29

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.