The inflation rate in Australia was at 4.1 percent as of the fourth quarter of 2023. This was a decline of 3.7 percentage points from the high of 7.8 percent in the fourth quarter of 2022.
Inflation rate in Australia from Q1 2021 to Q4 2023
Inflation is an increase in the level of prices of the goods and services that households buy. It is measured as the rate of change of those prices. Typically, prices rise over time, but prices can also fall (a situation called deflation). The most well-known indicator of inflation is the Consumer Price Index (CPI), which measures the percentage change in the price of a basket of goods and services consumed by households. In Australia, the CPI is calculated by the Australian Bureau of Statistics (ABS) and published once a quarter.
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Reserve Bank of Australia. (March 27, 2024). Inflation rate in Australia from Q1 2021 to Q4 2023 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1459188/australia-quarterly-inflation-rate/
Reserve Bank of Australia. "Inflation rate in Australia from Q1 2021 to Q4 2023." Chart. March 27, 2024. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1459188/australia-quarterly-inflation-rate/
Reserve Bank of Australia. (2024). Inflation rate in Australia from Q1 2021 to Q4 2023. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1459188/australia-quarterly-inflation-rate/
Reserve Bank of Australia. "Inflation Rate in Australia from Q1 2021 to Q4 2023." Statista, Statista Inc., 27 Mar 2024, https://www.statista.com/statistics/1459188/australia-quarterly-inflation-rate/
Reserve Bank of Australia, Inflation rate in Australia from Q1 2021 to Q4 2023 Statista, https://www.statista.com/statistics/1459188/australia-quarterly-inflation-rate/ (last visited November 21, 2024)
Inflation rate in Australia from Q1 2021 to Q4 2023 [Graph], Reserve Bank of Australia, March 27, 2024. [Online]. Available: https://www.statista.com/statistics/1459188/australia-quarterly-inflation-rate/