Cost of food in Australia increased 1.50 percent in December of 2018 over the same month in the previous year. Food Inflation in Australia averaged 5.31 percent from 1973 until 2018, 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.
Food Inflation in Australia is expected to be 1.40 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 1.70 in 12 months time. In the long-term, the Australia Food Inflation is projected to trend around 2.00 percent in 2020, according to our econometric models.