Australia Inflation Rate  1951-2017 | Data | Chart | Calendar | Forecast

Consumer prices in Australia rose 1.5 percent through the year to the fourth quarter of 2016 from 1.3 percent in the September quarter but slightly below markets expectations of a 1.6 percent rise. It was the highest inflation rate since the December quarter 2015, as a faster increase in prices of food and housing offset a drop in cost of transport. On a quarterly basis, consumer prices went up 0.5 percent, following a 0.7 percent rise in the previous three month period and below market expectations of a 0.7 percent increase. Inflation Rate in Australia averaged 5.09 percent from 1951 until 2016, 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.

Australia Inflation Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-07-27 01:30 AM Q2 1.0% 1.3% 1.1% 1.4%
2016-10-26 12:30 AM Q3 1.3% 1% 1.1% 1.1%
2017-01-25 12:30 AM Q4 1.5% 1.3% 1.6% 1.5%
2017-04-26 01:30 AM Q1 1.5% 1.5%
2017-07-27 01:30 AM Q2 1.6%
2017-10-26 12:30 AM Q3 1.7%




Australia Inflation Rate Slightly Below Estimates in Q4


Consumer prices in Australia rose 1.5 percent through the year to the fourth quarter of 2016 from 1.3 percent in the September quarter while markets expected a 1.6 percent rise. It was the highest inflation rate since the December quarter 2015, as a faster increase in prices of food and housing offset a drop in cost of transport.

Year-on-year, cost increased for: food and non-alcoholic beverages (1.8 percent from 1.5 percent in the September quarter), alcohol and tobacco (5.9 percent from 5.7 percent), housing (1.9 percent from 1.8 percent), furnishing, household equipment and services (0.6 percent from 1.9 percent), health (3.7 percent from 3.9 percent), education (3.3 percent from 3.3 percent) and insurance and financial services (2.7 percent from 2.9 percent). In contrast, cost declined for: clothing and footwear (-0.9 percent from 1.2 percent), financial services (2.9 percent from 2.4 percent), transport (-0.3 percent from 3.4 percent), communication (-5.9 percent from -7.5 percent) and recreation and culture (-0.5 percent from 0.6 percent). 

RBA Trimmed Mean CPI rose 1.6 percent year-on-year in the December quarter 2016, after gaining 1.7 percent in the preceding three quarters and slightly below consensus of a 1.7 percent gain. Quarter-on-quarter, the index increased 0.4 percent, the same as in the third quarter while markets estimated a 0.5 percent rise. RBA Weighted Mean CPI rose 1.5 percent year-on-year in the three months to December, up from a 1.3 percent growth in the third quarter and slightly above expectations of a 1.4 percent rise. For 2016, Australia's central bank targets core inflation of between 2.0 percent to 3.0 percent on average. 

On a quarterly basis, consumer prices rose 0.5 percent, following a 0.7 percent rise in the previous three month period and below market expectations of a 0.7 percent increase. The most significant price rises in the December quarter were tobacco (7.4 percent), automotive fuel (6.7 percent) and restaurant meals (+1.1 percent). These rises were partially offset by falls in furnishings, household equipment and services (-0.8 percent) and communication (-0.8 percent). 


ABS l Rida Husna | rida@tradingeconomics.com
1/25/2017 2:12:09 AM



Australia Prices Last Previous Highest Lowest Unit
Inflation Rate 1.50 1.30 23.90 -1.30 percent [+]
Inflation Rate Mom 0.50 0.70 7.55 -1.54 percent [+]
Consumer Price Index CPI 110.00 109.40 110.00 4.20 Index Points [+]
Core Consumer Prices 111.27 110.61 111.27 75.47 Index Points [+]
Core Inflation Rate 1.60 1.70 10.70 1.60 percent [+]
GDP Deflator 103.06 101.16 103.06 6.57 Index Points [+]
Producer Prices 106.80 106.30 106.80 70.70 Index Points [+]
Producer Prices Change 0.70 0.50 6.30 -1.50 percent [+]
Export Prices 86.00 76.50 112.20 16.30 Index Points [+]
Import Prices 102.70 102.50 116.30 51.50 Index Points [+]
Food Inflation 1.80 1.50 20.60 -3.20 percent [+]
Inflation Expectations 4.00 4.10 8.60 2.80 percent [+]



Australia Inflation Rate Notes

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 March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
1.50 1.30 23.90 -1.30 1951 - 2016 percent Quarterly
2011/2012=100



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