Australia's annual food price inflation rose to 9.2 percent in Q4 of 2022 from 9.0 percent in Q3. The latest figure marked the highest level since Q3 2006, amid robust consumption during the festive season, as the economy fully reopened after COVID-19 disruptions. Upward pressures came from all components, namely bread (12.2% vs 10.0% in Q3); dairy & related products (14.9% vs 12.1%); food products n.e.c(11.0% vs 9.4%); oils & fats (20.8% vs 19.3%); cakes & biscuits (10.4% vs 7.9%); pork (4.8% vs 3.8%); eggs (11.7% vs 10.4%); cheese (14.3% vs 9.5%); jams, honey & spreads (7.1% vs 6.8%); ice cream & other dairy products (11.7% vs 9.1%); coffee, tea, cocoa (11.9% vs 10.7%); water, soft drinks, juices (10.2% vs 9.0%); meals out and take away foods (7.3% vs 6.1%); and restaurants meals (6.9% vs 5.8%). However, costs grew at a softer pace for other cereal products (13.1% vs 13.2%); fruit (12.6% vs 14.6%); beef and veal (8.6% vs 9.3%); and vegetables (5.7% vs 17.2%). source: Australian Bureau of Statistics

Food Inflation in Australia averaged 5.16 percent from 1973 until 2022, 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. This page provides - Australia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Food Inflation - values, historical data and charts - was last updated on February of 2023.

Food Inflation in Australia is expected to be 6.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Food Inflation is projected to trend around 1.50 percent in 2024 and 1.90 percent in 2025, according to our econometric models.

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Australia Food Inflation



Related Last Previous Unit Reference
Inflation Rate 7.80 7.30 percent Dec 2022
Inflation Rate MoM 1.90 1.80 percent Dec 2022
Consumer Price Index CPI 130.80 128.40 points Dec 2022
Core Inflation Rate 6.90 6.10 percent Dec 2022
Core Consumer Prices 129.11 126.95 points Dec 2022
GDP Deflator 111.62 111.35 points Sep 2022
Producer Prices 123.20 122.30 points Dec 2022
Producer Prices Change 5.80 6.40 percent Dec 2022
Export Prices 181.90 183.50 points Dec 2022
Import Prices 138.40 135.90 points Dec 2022
Food Inflation 9.20 9.00 percent Dec 2022
CPI Transportation 125.90 123.80 points Dec 2022
CPI Housing Utilities 139.00 136.40 points Dec 2022