Australia Inflation Rate

The inflation rate in Australia was recorded at 2.90 percent in the first quarter of 2014. Inflation Rate in Australia is reported by the Australian Bureau of Statistic. Inflation Rate in Australia averaged 5.24 Percent from 1951 until 2014, 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. In Australia, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. This page provides - Australia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
2.90 2.70 23.90 -1.30 2.54 | 2014/06 1951 - 2014 Percent Quarterly

TO

Australia Inflation Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-07-24 02:30 AM Australia
Inflation Rate YoY
JUN 2013 2.4% 2.5% 2.5% 2.7%
2013-10-23 01:30 AM Australia
Inflation Rate YoY
Q3 2013 2.2% 2.4% 1.8% 2.62%
2014-01-22 12:30 AM Australia
Inflation Rate YoY
Q4 2013 2.7% 2.2% 2.5% 2.25%
2014-04-23 02:30 AM Australia
Inflation Rate YoY
Q1 2014 2.9% 2.7% 3.2% 2.54%
2014-07-23 03:30 AM Australia
Inflation Rate YoY
Q2 2014 2.9% 2.54%
2014-10-22 02:30 AM Australia
Inflation Rate YoY
Q3 2014 2.99%
[+]

Prices Last Previous Highest Lowest Forecast Unit
Inflation Rate 2.90 2014-03-31 2.70 23.90 -1.30 2.54 2014-06-30 Percent [+]
Core Inflation Rate 2.73 2014-02-15 2.64 7.60 0.87 2.78 2014-06-30 Percent [+]
Consumer Price Index (CPI) 105.40 2014-02-15 104.80 105.40 4.20 106.67 2014-06-30 Index Points [+]
Core Consumer Prices 105.40 2014-02-15 104.90 105.40 43.40 106.11 2014-06-30 Index Points [+]
Export Prices 93.80 2013-11-15 94.30 112.20 16.30 95.09 2014-03-31 Index Points [+]
GDP Deflator 101.40 2013-11-15 100.60 108.40 7.40 100.88 2014-03-31 Index Points [+]
Import Prices 104.90 2013-11-15 105.50 116.30 51.50 106.78 2014-03-31 Index Points [+]
Inflation Rate Mom 0.60 2014-02-15 0.77 7.55 -1.54 0.97 2014-06-30 Percent [+]
Producer Prices 103.00 2013-11-15 102.80 103.00 70.70 103.39 2014-03-31 Index Points [+]
Producer Prices Change 1.88 2013-11-15 1.88 6.31 -1.46 2.10 2014-03-31 Percent [+]
[+]


Australia Inflation Rate Accelerates Further in Q1

Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.

Year-on-year, the most significant price rises this quarter were for tobacco (+6.8 percent), education (5.1 percent), health (4 percent), housing (3.6 percent), recreation and culture (2.7 percent) and transport (2.5 percent). Cost of clothing and footwear recorded the lowest annual increase (0.5 percent). 

Compared with the last three months of 2013, consumer prices slowed to 0.6 percent, after rising 0.8 percent in the December quarter. 

The most significant price rises this quarter were for tobacco (+6.7 percent), automotive fuel (+4.1 percent), secondary education (+6.0 percent), tertiary education (+4.3 percent), medical and hospital services (+1.9 percent) and pharmaceutical products (+6.1 percent). These rises were partially offset by falls in furniture (-4.3 percent), maintenance and repair of motor vehicles (-3.3 percent), international holiday travel and accommodation (-2.4 percent) and domestic holiday travel and accommodation (-2.4 percent).

The tobacco price increase was caused by the federal excise tax rise from 1 December 2013 as well as the March 2014 biannual indexation based on the ABS' Average Weekly Ordinary Times Earnings (AWOTE) rate.

Education prices have risen with the commencement of the new school year.

Rises for medical and hospital services and pharmaceutical products were a result of the cyclical reduction in the proportion of patients who qualify for subsidies under the Medicare Benefits Scheme and Pharmaceutical Benefits Scheme at the start of each calendar year.

ABS | Joana Taborda | joana.taborda@tradingeconomics.com
4/23/2014 8:40:56 AM

RECENT RELEASES

Australia's Annual Inflation Rate Surges to 2.7% in Q4
Australia's CPI rose 2.7% through the year to the December quarter 2013, following a rise of 2.2% in the previous quarter as prices of education, alcohol and tobacco, housing and health rose more than 4 percent. Published on 2014-01-22

Australia Annual Inflation Rate Falls to 2.2% in Q3
Australia’s CPI rose 2.2 percent through the year to the September quarter 2013, compared with a rise of 2.4 per cent last quarter. Quarterly, prices quickened to 1.2 percent in the third quarter of 2013, from 0.4 percent in the June quarter, boosted by higher fuel prices. Published on 2013-10-23


Inflation Rate | Notes
The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.


RELATED NEWS

Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Australia's Jobless Rate Down to 5.8% in March  
Australia's seasonally adjusted unemployment rate decreased by 0.2 percentage points to 5.8 percent in March while the number of people employed increased by 18,100 to 11,553,200.
Australia Reports Third Monthly Trade Surplus in February  
Australia's trade surplus narrowed in February when compared to a downwardly revised result in the previous month, but performed better than analysts had expected.
Australia Leaves Rate Steady at 2.5%  
At its April 1st, 2014 meeting, the Reserve Bank of Australia decided to leave the cash rate unchanged at 2.5 percent, as it considers the current policy stance appropriate to support demand and growth.
Australia's Unemployment Rate Stable in February  
Australia's seasonally adjusted unemployment rate stayed at 6 percent in February as more people joined the labour force. The employment surged by 47,300, the biggest gain in 13 months and above forecasts.
Australia's Trade Surplus Hits 29-Month High in January  
Australia's trade surplus surged to $1,433m in seasonally adjusted terms in the first month of 2014, the highest value since August of 2011 as exports grew faster than imports.
Australian Economy Expands 0.8% in Q4  
Australian GDP grew faster than expected in seasonally adjusted volume terms in the last quarter of 2013. Expansion was mostly driven by exports and consumption while fixed investment declined.
Australia Leaves Monetary Policy Unchanged  
At its March 4th, the Reserve Bank of Australia decided to leave cash rate unchanged at 2.5 percent for the sixth straight meeting, after sending a strong signal last month it wanted a period of interest rate stability.
Australia's Unemployment Rate Up to 6% in January  
Australia's seasonally adjusted unemployment rate increased by 0.2 percentage points to 6.0 percent in January, the highest level since July of 2003.
Australia Reports Trade Surplus in December  
Australia posted an unexpected trade surplus of $468m in December 2013, an increase of $385m (464%) on the surplus in November 2013. Exports rose 4% supported by the weakened Aussie dollar, while imports grew 2%.
MORE RELATED NEWS

LATEST NEWS

South Korean Economy Expands at a Fastest Pace  
In the first quarter of 2014, South Korea’s GDP accelerated for the fourth straight quarter to an annual 3.9 percent growth rate, driven by exports.
South Korea GDP Growth Beats Expectations in Q1  
South Korean GDP expanded a seasonally adjusted 0.9 percent on quarter in the first three months of 2014, the same rate recorded in the previous quarter and above market expectations.
Reserve Bank of New Zealand Increases Interest Rate to 3.0%  
At its April 23rd, 2014 meeting, the Reserve Bank of New Zealand lifted the benchmark interest rate for the second straight meeting by 25 bps to 3.0 percent, as inflationary pressures were increasing and were expected to continue doing so over the next two years.
US New Home Sales Fall Sharply in March  
Sales of new single-family houses dropped 14.5 percent in March of 2014 to their lowest level in eight months. Sales were recorded at a seasonally adjusted annual rate of 384,000, below the revised February rate of 449,000.
US Markit Manufacturing PMI Steady in April  
At 55.4 in April, the Markit Flash U.S. Manufacturing PMI was down fractionally from 55.5 in March, but still well above the neutral 50.0 value. Sharper rates of output and new business growth boosted the Manufacturing PMI during April, while the main negative influence on the headline index was a rise in the suppliers’ delivery times component.
Bank of Thailand Leaves Interest Rate Unchanged  
At its April 23rd, 2014 meeting, the Monetary Policy Committee left the benchmark interest rate on hold at 2.0 percent. Policymakers expect 2014 growth to be lower than previous assessed due to prolonged political unrest.
South Africa Inflation Rate Back to 6%  
South African annual consumer prices accelerated for the fourth straight month in March of 2014 to a six-month high 6 percent. On a monthly basis, prices advanced 1.3 percent, the fastest pace in five years.
Singapore Inflation Rate Edges Up in March  
Annual consumer prices rose 1.2 percent in March of 2014, up from a 0.4 percent increase in February, mainly due to a smaller fall in car prices. Contributions from all other major categories, except accommodation, were also slightly higher.
Australia Inflation Rate Accelerates Further in Q1  
Australian annual consumer prices advanced 2.9 percent in the first three months of 2014, up from 2.7 percent in the previous quarter, but below market forecasts. The rise was driven by seasonal increases in cost of healthcare, transport and school fees, and by a large hike in tobacco duties.
Mexico Unemployment Rate Up to 4.8% in March  
Mexican unadjusted jobless rate rose to 4.8 percent in March of 2014, up from 4.65 percent in February and 4.51 percent a year earlier. Upon seasonal adjustment, the unemployment rate rose to its highest in more than one year to 5.25 percent.
MORE TOP NEWS

OVERVIEW    |     WORLBANK    |     [+] Calendar    |     [+] Countries    |     [+] Indicators    |     News






Markets

GDP

Labour

Prices

Money

Trade

Government

Business

Consumer

Taxes

Housing