East Asia & Pacific
Australia Inflation
Annual percentage change in consumer prices (CPI).
Latest Value
3.2%
As of 2024
YoY Change
-43.4%
2023 → 2024
Record High
15.4%
Recorded in 1974
Record Low
-0.3%
Recorded in 1962
10-Year Average
2.7%
2015–2024
Data Range
1960–2024
65 data points
Source
World Bank
Code: FP.CPI.TOTL.ZG
Historical Trend
1960 – 2024
Analysis
Australia's inflation rate of 3.17% in 2024 is within the Reserve Bank of Australia's target range of 2-3%, indicating a stable economy. This moderate inflation rate suggests that the economy is experiencing steady growth without significant price pressures. The inflation rate is influenced by various factors, including labor market conditions and global commodity prices.
Historical Data
| Value | YoY Change | Change % | |
|---|---|---|---|
| 2024 | 3.2% | 2.4% | -43.4% |
| 2023 | 5.6% | 1.0% | -15.1% |
| 2022 | 6.6% | 3.7% | +130.2% |
| 2021 | 2.9% | 2.0% | +238.2% |
| 2020 | 0.8% | 0.8% | -47.4% |
| 2019 | 1.6% | 0.3% | -15.7% |
| 2018 | 1.9% | 0.0% | -1.9% |
| 2017 | 1.9% | 0.7% | +52.6% |
| 2016 | 1.3% | 0.2% | -15.3% |
| 2015 | 1.5% | 1.0% | -39.4% |
Source: World Bank Open Data · 1960–2024
Neighbouring Countries Ranking
East Asia & Pacific · Inflation
Similar Rankings
Global · Inflation
