Inflation Rate in Australia decreased to 5.40 percent in the third quarter of 2023 from 6 percent in the second quarter of 2023. Inflation Rate in Australia averaged 4.90 percent from 1951 until 2023, 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 most important categories in the consumer price index are housing (23 percent of the total weight), food and non–alcoholic beverages (17 percent), transport (11 percent), furnishings, household equipment and services (9 percent), alcohol and tobacco (9 percent), recreation and culture (9 percent), health (7 percent) and insurance and financial services (6 percent). Clothing and footwear, education and communication account for remaining 10 percent of total weight. This page provides the latest reported value for – Australia Inflation Rate – plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.
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