The annual inflation rate in Australia climbed to 6.1% in Q2 of 2022 from 5.1% in Q1 and compared with market forecasts of 6.2%. This was the highest print since Q2 2001, amid an acceleration in prices of food and further rises in cost of both fuel and dwelling. Prices of food rose the most since Q3 2011 (5.9% vs 4.3% in Q1), while additional upward pressures came from cost of transport (13.1% vs 13.7%), housing (9% vs 6.7%), alcohol & tobacco (2.2% vs 1.8%), furnishings (6.3% vs 4.9%), recreation (4.5% vs 3%), health (2.4% vs 3.5%), and insurance & financial services (3.4% vs 2.7%). On a quarterly basis, consumer prices went up 1.8% in Q2, the second highest figure since the introduction of the Goods and Services Tax, compared to consensus of 1.9%, due to rises in cost of new dwellings and fuel. The RBA Trimmed Mean CPI rose 4.9% yoy, the fastest pace since the series began in 2003, exceeding the midpoint of the RBA’s 2-3% target. Quarter-on-quarter, the index gained 1.5%. source: Australian Bureau of Statistics

Inflation Rate in Australia averaged 4.87 percent from 1951 until 2022, 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 September of 2022.

Inflation Rate in Australia is expected to be 6.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Inflation Rate is projected to trend around 3.50 percent in 2023 and 2.50 percent in 2024, according to our econometric models.

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Australia Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-27 01:30 AM Q1 5.1% 3.5% 4.6% 4.5%
2022-07-27 01:30 AM Q2 6.1% 5.1% 6.2% 6.2%
2022-10-26 12:30 AM Q3 6.1%


Related Last Previous Unit Reference
Inflation Rate 6.10 5.10 percent Jun 2022
Inflation Rate MoM 1.80 2.10 percent Jun 2022
Consumer Price Index CPI 126.10 123.90 points Jun 2022
Core Inflation Rate 4.90 3.70 percent Jun 2022
Core Consumer Prices 124.51 122.72 points Jun 2022
GDP Deflator 114.30 110.60 points Jun 2022
Producer Prices 120.00 118.30 points Jun 2022
Producer Prices Change 5.60 4.90 percent Jun 2022
Export Prices 190.40 173.00 points Jun 2022
Import Prices 132.00 126.60 points Jun 2022
Food Inflation 5.90 4.30 percent Jun 2022
CPI Transportation 124.30 121.50 points Jun 2022
CPI Housing Utilities 132.20 129.00 points Jun 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
6.10 5.10 23.90 -1.30 1951 - 2022 percent Quarterly
2011/2012=100

News Stream
Australia Food Prices Rise the Most in Near 11 Years
The annual food price inflation in Australia picked up to 5.9 percent in the June quarter of 2022 from 4.3 percent in Q1, amid robust consumption as the economy fully reopened in the wake of COVID-19 disruptions. This marked the fastest rise in food prices since Q3 2011, with main upward pressures largely coming from cost of bread (7.2% vs 2.6% in Q1), beef and veal (9.4% vs 12.1%), dairy & related products (5.2% vs 4.1%), food products n.e.c(6.1% vs 4.2%), oils and fats (14.6% vs 8.6%), cakes & biscuits (3.9% vs 2.2%), pork (3.9% vs 3.3%), eggs (5.8% vs 1.5%), cheese (4.9% vs 3.3%), other cereal products (10.4% vs 7.3%), jams, honey, and spreads (2.2% vs 2.2%), ice cream and other dairy products (5.6% vs 4.6 %), vegetables (14.6% vs 12.7%), coffee, tea, cocoa (9.3% vs 8.2%), water, soft drinks, juices (7.6% vs 6.4%), meals out and take away foods (4.7% vs 2.6%), and restaurants meals (5% vs 2.8%). At the same time, cost of fruit continued to fall (-1.4% vs -0.5%).
2022-07-27
Australia Q2 Inflation Rate Hits 21-Year High
The annual inflation rate in Australia climbed to 6.1% in Q2 of 2022 from 5.1% in Q1 and compared with market forecasts of 6.2%. This was the highest print since Q2 2001, amid an acceleration in prices of food and further rises in cost of both fuel and dwelling. Prices of food rose the most since Q3 2011 (5.9% vs 4.3% in Q1), while additional upward pressures came from cost of transport (13.1% vs 13.7%), housing (9% vs 6.7%), alcohol & tobacco (2.2% vs 1.8%), furnishings (6.3% vs 4.9%), recreation (4.5% vs 3%), health (2.4% vs 3.5%), and insurance & financial services (3.4% vs 2.7%). On a quarterly basis, consumer prices went up 1.8% in Q2, the second highest figure since the introduction of the Goods and Services Tax, compared to consensus of 1.9%, due to rises in cost of new dwellings and fuel. The RBA Trimmed Mean CPI rose 4.9% yoy, the fastest pace since the series began in 2003, exceeding the midpoint of the RBA’s 2-3% target. Quarter-on-quarter, the index gained 1.5%.
2022-07-27
Australia Q1 Inflation Rate Jumps to 2 Decade-High
The annual inflation rate in Australia surged to 5.1% in Q1 of 2022 from 3.5% in Q4, surpassing market estimates of 4.6% and marking the highest reading since the introduction of the Goods and Services Tax in the early 2000s, reflecting soaring fuel prices and surging building cost. Transport prices rose the most since the 1990 Iraqi invasion of Kuwait (13.7% vs 12.5% in Q4), while additional upward pressures came from cost of food and non-alcoholic beverages (4.3% vs 1.9%), alcohol & tobacco (1.8% vs 1.1%), housing (6.7% vs 4%), furnishings (4.9% vs 3.6%), recreation (3% vs 2.1%), health (3.5% vs 3.3%), and insurance & financial services (2.7% vs 2.2%). On a quarterly basis, consumer prices went up 2.1%, the most since Q3 2000, after a 1.3% gain in Q4, mainly due to a jump in cost of new dwellings and fuel. The RBA Trimmed Mean CPI rose by 3.7% yoy, the fastest pace in 12 years, exceeding the midpoint of the central bank’s 2-3% target. Quarter-on-quarter, the index increased 1.4%.
2022-04-27