Australia inflation rate for 2024 was 3.16%, a 2.44% decline from 2023.
Australia inflation rate for 2023 was 5.60%, a 1% decline from 2022.
Australia inflation rate for 2022 was 6.59%, a 3.73% increase from 2021.
Australia inflation rate for 2021 was 2.86%, a 2.02% increase from 2020.
Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.