The annual inflation rate in Australia fell to 1.3 percent in the first quarter 2019 from 1.8 percent in the previous period and missing market expectations of 1.5 percent. It was the lowest inflation rate since the third quarter 2016, amid a slowdown in petrol and housing prices. On a quarterly basis, consumer prices were flat in the March quarter, the weakest quarterly inflation rate in three years, after a 0.5 percent rise in the previous three months, below market consensus of 0.2 percent. Inflation Rate in Australia averaged 4.98 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.
Inflation Rate in Australia is expected to be 1.70 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 2.20 in 12 months time. In the long-term, the Australia Inflation Rate is projected to trend around 2.20 percent in 2020, according to our econometric models.