The annual inflation rate in Australia inched higher to 1.7 percent in the September quarter of 2019 from 1.6 percent in the previous period and in line with market expectations. This was the highest inflation rate since the fourth quarter last year, mainly due to a rebound in cost of furnishings, household equipment and services while transport prices slowed markedly. On a quarterly basis, consumer prices increased by 0.5 percent in the third quarter, easing from a 0.6 percent gain the prior period and also matching consensus. Inflation Rate in Australia averaged 4.96 percent from 1951 until 2019, 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. source: Australian Bureau of Statistics

Inflation Rate in Australia is expected to be 1.80 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 2.00 in 12 months time. In the long-term, the Australia Inflation Rate is projected to trend around 1.90 percent in 2020, according to our econometric models.

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Australia Inflation Rate
Calendar GMT Actual Previous Consensus TEForecast
2019-01-30 12:30 AM Inflation Rate YoY Q4 1.8% 1.9% 1.7% 1.8%
2019-04-24 01:30 AM Inflation Rate YoY Q1 1.3% 1.8% 1.5% 1.5%
2019-07-31 01:30 AM Inflation Rate YoY Q2 1.6% 1.3% 1.5% 1.5%
2019-10-30 12:30 AM Inflation Rate YoY Q3 1.7% 1.6% 1.7% 1.7%
2020-01-29 12:30 AM Inflation Rate YoY Q4 1.7% 1.8%
2020-04-29 01:30 AM Inflation Rate YoY Q1 2.1%
2020-07-31 01:30 AM Inflation Rate YoY Q2 2%



Australia Q3 Inflation Rate Matches Estimates

The annual inflation rate in Australia inched higher to 1.7 percent in the September quarter of 2019 from 1.6 percent in the previous period and in line with market expectations. This was the highest inflation rate since the fourth quarter last year, mainly due to a rebound in cost of furnishings, household equipment and services while transport prices slowed markedly.

Year-on-year, prices went up at a faster pace for alcohol and tobacco (6.6 percent vs 5.9 percent in Q2), health (3.1 percent vs 3 percent), and clothing and footwear (1.5 percent vs 0.2 percent). Additionally, cost of furnishings, household equipment and services rebounded (1.8 percent vs -0.4 percent). Also, prices of communication fell at a slower rate (-4.1 percent vs -4.4 percent).

On the other hand, transport prices increased 0.7 percent, slowing noticeably from a 1.7 gain in the June quarter, mainly due to automotive fuels (-3.9 percent vs -0.5 percent). At the same time, prices of food and non-alcoholic beverages increased by 2.3 percent in the third quarter, easing from a 2.4 percent gain in the prior period, of which fruits and vegetables (0.7 percent vs 5.6 percent); oils and fats (0.8 percent vs 1.3 percent); and milk (1.7 percent vs 2 percent). In addition, cost slowed for housing (0.4 percent vs 0.5 percent), namely new dwelling purchase by owner-occupiers (-0.1 percent vs 0.2 percent); recreation and culture (1.7 percent vs 1.8 percent); and insurance and financial services (0.5 percent vs 0.9 percent). Meantime, inflation was steady for education (at 2.8 percent).

RBA Trimmed Mean CPI rose 1.6 percent year-on-year in the three months to September, the same pace as in the previous quarter and matching market forecasts. Quarter-on-quarter, the index advanced 0.4 percent, unchanged from the previous period and in line with estimates. RBA Weighted Mean CPI stood at 1.2 percent, below market estimates of a 1.3 percent gain.

On a quarterly basis, consumer prices increased by 0.5 percent in the third quarter, after a 0.6 percent rise in the the June quarter, matching market expectations. The most significant price rises this quarter are international holiday, travel and accommodation (6.1 percent), tobacco (3.4 percent), property rates and charges (2.5 percent) and child care (2.5 percent) were offset by declines in cost of automotive fuel (-2.0 percent), fruit (-3.1 percent) and vegetables (-2.5 percent).



ABS l Rida Husna | rida@tradingeconomics.com
10/30/2019 10:45:40 AM



Australia Prices Last Previous Highest Lowest Unit
Inflation Rate 1.70 1.60 23.90 -1.30 percent [+]
Inflation Rate Mom 0.50 0.60 7.55 -1.54 percent [+]
Consumer Price Index CPI 115.40 114.80 115.40 4.20 points [+]
Core Consumer Prices 116.16 115.91 116.16 75.47 points [+]
Core Inflation Rate 1.60 1.60 10.70 1.60 percent [+]
GDP Deflator 105.43 104.75 105.43 6.22 points [+]
Producer Prices 112.10 111.60 112.10 70.70 points [+]
Producer Prices Change 1.60 2.00 6.30 -1.50 percent [+]
Export Prices 114.80 113.30 114.80 16.30 points [+]
Import Prices 113.50 113.10 116.30 51.50 points [+]
Food Inflation 2.30 2.40 20.60 -3.20 percent [+]
Inflation Expectations 4.00 4.00 8.60 2.80 percent [+]
CPI Housing Utilities 121.80 121.40 121.80 10.30 points [+]
CPI Transportation 107.00 107.30 107.30 11.30 points [+]


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. 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 - actual data, historical chart and calendar of releases - was last updated on December of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
1.70 1.60 23.90 -1.30 1951 - 2019 percent Quarterly
2011/2012=100




Country Last Previous
Argentina 51.40 Nov/19 50.5
Australia 1.70 Sep/19 1.6
Brazil 3.27 Nov/19 2.54
Canada 1.90 Oct/19 1.9
China 4.50 Nov/19 3.8
Euro Area 1.00 Nov/19 0.7
France 1.00 Nov/19 0.8
Germany 1.10 Nov/19 1.1
India 5.54 Nov/19 4.62
Indonesia 3.00 Nov/19 3.13
Italy 0.40 Nov/19 0.2
Japan 0.20 Oct/19 0.2
Mexico 2.97 Nov/19 3.02
Netherlands 2.60 Nov/19 2.7
Russia 3.50 Nov/19 3.8
Saudi Arabia -0.30 Oct/19 -0.7
Singapore 0.40 Oct/19 0.5
South Africa 3.60 Nov/19 3.7
South Korea 0.20 Nov/19 0
Spain 0.40 Nov/19 0.1
Switzerland -0.10 Nov/19 -0.3
Turkey 10.56 Nov/19 8.55
United Kingdom 1.50 Oct/19 1.7
United States 2.10 Nov/19 1.8


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