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AUSTRALIA INFLATION RATEThe inflation rate in Australia was recorded at 1.60 percent in March of 2012. Historically, from 1973 until 2012, Australia Inflation Rate averaged 5.9 Percent reaching an all time high of 17.6 Percent in March of 1975 and a record low of -0.3 Percent in September of 1997. Inflation rate refers to a general rise in prices measured against a standard level of purchasing power. The most well known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy. This page includes a chart with historical data for Australia Inflation Rate.
Australian Annual Inflation Down to 1.6% in Q1
Published on 4/24/2012 11:49:36 AM
| By TradingEconomics.com, ABS
The CPI rose 1.6% through the year to the March quarter 2012, compared with a rise of 3.1% through the year to the December quarter 2011.
The Consumer Price Index (CPI) increased 0.1% in the March quarter 2012, compared with no change in the December quarter 2011.
The most significant price rises in the March quarter 2012 were for pharmaceutical products (+14.1%), secondary education (+7.7%), automotive fuel (+2.5%), medical and hospital services (+2.1%), tertiary education (+4.7%) and rents (+1.0%). The most significant offsetting price falls were for fruit (–30.0%), international holiday travel and accommodation (–4.8%), furniture (–6.0%), audio, visual and computing equipment (–6.3%) and domestic holiday travel and accommodation (–2.0%).
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Inflation Rate
Inflation refers to a general rise in prices measured against a standard level of purchasing power. Previously the term was used to refer to an increase in the money supply, which is now referred to as expansionary monetary policy or monetary inflation. Inflation is measured by comparing two sets of goods at two points in time, and computing the increase in cost not reflected by an increase in quality. There are, therefore, many measures of inflation depending on the specific circumstances. The most well known are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy.The prevailing view in mainstream economics is that inflation is caused by the interaction of the supply of money with output and interest rates. Mainstream economist views can be broadly divided into two camps: the "monetarists" who believe that monetary effects dominate all others in setting the rate of inflation, and the "Keynesians" who believe that the interaction of money, interest and output dominate over other effects. Other theories, such as those of the Austrian school of economics, believe that an inflation of overall prices is a result from an increase in the supply of money by central banking authorities. Related concepts include: deflation, a general falling level of prices; disinflation, the reduction of the rate of inflation; hyper-inflation, an out-of-control inflationary spiral; stagflation, a combination of inflation and poor economic growth; and reflation, which is an attempt to raise prices to counteract deflationary pressures.
AUSTRALIA NEWS
Australia's Unemployment Down to 4.9% in April
Published: 5/10/2012 11:58:25 AM
By: TradingEconomics.com, ABS
Australia's unemployment rate decreased 0.2 pts to 4.9%. The male unemployment rate decreased 0.2 pts to 4.8% and the female unemployment rate decreased 0.2 pts to 5.1%.
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Australia Reports Trade Deficit for Third Month
Published: 5/8/2012 11:31:23 AM
By: TradingEconomics.com, ABS
In seasonally adjusted terms, the balance on goods and services was a deficit of $1,587m in March 2012, a rise of $833m on the deficit in February 2012.
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Australia Cuts Rates to 3.75%
Published: 5/1/2012 11:30:40 AM
By: TradingEconomics.com, RBA
At its meeting on May 1st, the Board decided to lower the cash rate by 50 basis points to 3.75 per cent, effective 2 May 2012. This decision is based on information received over the past few months that suggests that economic conditions have been somewhat weaker than expected, while inflation has moderated.
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Australian Annual Inflation Down to 1.6% in Q1
Published: 4/24/2012 11:49:36 AM
By: TradingEconomics.com, ABS
The CPI rose 1.6% through the year to the March quarter 2012, compared with a rise of 3.1% through the year to the December quarter 2011.
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Australia's Unemployment Rate Steady at 5.2% in March
Published: 4/12/2012 11:31:07 AM
By: TradingEconomics.com, ABS
Employment increased 44,000 (0.4%) to 11,491,200. Full-time employment increased 15,800 (0.2%) to 8,080,400 and part-time employment increased 28,200 (0.8%) to 3,410,900.
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Australia Reports Trade Deficit in February
Published: 4/4/2012 11:03:26 AM
By: TradingEconomics.com, ABS
In seasonally adjusted terms, the balance on goods and services was a deficit of $480m in February 2012, a fall of $491m on the deficit in January 2012.
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Reserve Bank of Australia Leaves Interest Rates Steady
Published: 4/3/2012 1:34:36 PM
By: TradingEconomics.com, RBA
The board of the Reserve Bank of Australia has left interest rates unchanged at 4.25 per cent at its monthly meeting.
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Australia Reports Trade Deficit in January
Published: 3/9/2012 11:40:09 AM
By: TradingEconomics.com, ABS
In seasonally adjusted terms, Australia reported a trade deficit of $673m in January 2012, a turnaround of $1,998m on the surplus in December 2011.
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Australia's Unemployment Rate Up to 5.2% in February
Published: 3/8/2012 12:29:16 PM
By: TradingEconomics.com, ABS
Australia's seasonally adjusted unemployment rate increased 0.1 percentage points to 5.2 per cent in February.
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Australia's GDP Growth Slows in Q4
Published: 3/7/2012 11:15:41 AM
By: TradingEconomics.com, ABS
In seasonally adjusted terms, GDP increased 0.4% in the December quarter; through the year GDP growth was 2.3%.
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