Inflation Rate (CPI): Australia
Current Value (2024)
3.2%
All-Time Peak (1974)
15.4%
All-Time Low (1962)
-0.3%
Inflation Rate (CPI) — Australia
Analysis# Australia's Inflation Analysis
Australia's current inflation rate of 3.16% (2024) represents a substantial decline from the 7-8% range of 2022-2023, reflecting the Reserve Bank's aggressive rate-hiking cycle that has successfully brought price pressures under control following post-pandemic stimulus. The 1974 peak of 15.42%—occurring during the global oil crisis and stagflation era—remains the most severe inflationary episode in the 65-year dataset, roughly five times higher than today's level. The solitary deflationary reading of -0.32% in 1962 highlights Australia's typical inflationary bias, with sustained sub-2%
Historical Data
| Year | Value | Change % |
|---|---|---|
| 2024 | 3.2% | -43.51% |
| 2023 | 5.6% | -15.12% |
| 2022 | 6.6% | +130.25% |
| 2021 | 2.9% | +238.16% |
| 2020 | 0.8% | -47.42% |
| 2019 | 1.6% | -15.73% |
| 2018 | 1.9% | -1.91% |
| 2017 | 1.9% | +52.60% |
| 2016 | 1.3% | -15.34% |
| 2015 | 1.5% | -39.37% |
| 2014 | 2.5% | +1.55% |
| 2013 | 2.4% | +38.98% |
| 2012 | 1.8% | -46.64% |
| 2011 | 3.3% | +13.21% |
| 2010 | 2.9% | +64.77% |
| 2009 | 1.8% | -59.29% |
| 2008 | 4.4% | +86.90% |
| 2007 | 2.3% | -34.53% |
| 2006 | 3.6% | +32.08% |
| 2005 | 2.7% | +14.88% |
Show all 65 rows
| Year | Value | Change % |
|---|---|---|
| 2004 | 2.3% | -14.25% |
| 2003 | 2.7% | -8.35% |
| 2002 | 3.0% | -32.35% |
| 2001 | 4.4% | -1.13% |
| 2000 | 4.5% | +200.54% |
| 1999 | 1.5% | +72.43% |
| 1998 | 0.9% | +282.47% |
| 1997 | 0.2% | -91.40% |
| 1996 | 2.6% | -43.48% |
| 1995 | 4.6% | +134.96% |
| 1994 | 2.0% | +12.32% |
| 1993 | 1.8% | +73.25% |
| 1992 | 1.0% | -68.14% |
| 1991 | 3.2% | -56.68% |
| 1990 | 7.3% | -2.67% |
| 1989 | 7.5% | +4.41% |
| 1988 | 7.2% | -15.44% |
| 1987 | 8.5% | -5.72% |
| 1986 | 9.1% | +34.38% |
| 1985 | 6.7% | +70.05% |
| 1984 | 4.0% | -60.55% |
| 1983 | 10.0% | -11.57% |
| 1982 | 11.4% | +19.65% |
| 1981 | 9.5% | -6.39% |
| 1980 | 10.1% | +11.11% |
| 1979 | 9.1% | +13.95% |
| 1978 | 8.0% | -34.97% |
| 1977 | 12.3% | -7.60% |
| 1976 | 13.3% | -12.13% |
| 1975 | 15.2% | -1.65% |
| 1974 | 15.4% | +69.58% |
| 1973 | 9.1% | +50.91% |
| 1972 | 6.0% | -1.86% |
| 1971 | 6.1% | +78.48% |
| 1970 | 3.4% | +4.89% |
| 1969 | 3.3% | +30.05% |
| 1968 | 2.5% | -27.52% |
| 1967 | 3.5% | +5.61% |
| 1966 | 3.3% | -3.29% |
| 1965 | 3.4% | +18.82% |
| 1964 | 2.9% | +347.13% |
| 1963 | 0.6% | +300.64% |
| 1962 | -0.3% | -113.97% |
| 1961 | 2.3% | -38.65% |
| 1960 | 3.7% | — |