The monthly Consumer Price Index (CPI) indicator in Australia increased by 4.9% in the year to July 2023, slowing from a 5.4% gain in June and below the market consensus of a 5.2% rise. This was the lowest inflation rate since February 2022, mainly due to a slowdown in housing and food prices, although it remained well above the Reserve Bank of Australia's target range of 2-3%. Inflation eased for housing (7.3% vs 7.4%), with new dwelling prices rising the least since October 2021 at 5.9%; food and non-alcoholic beverages rose the least since May 2022 (5.6% vs 7.0%), due mainly to falls in fruit & vegetable prices; communications (0.3% vs 0.6%); recreation & culture (4.1% vs 6.8%); and furnishing, household equipment and services (4.3% vs 6.3%). By contrast, transport prices rebounded (0.3% vs -0.9%), with automotive fuel prices falling at a softer pace. The monthly CPI indicator excluding volatile items and travel advanced by 5.8% in July, down from the rise of 6.1% in June. source: Australian Bureau of Statistics

Monthly CPI Indicator in Australia averaged 3.18 percent from 2018 until 2023, reaching an all time high of 8.40 percent in December of 2022 and a record low of -0.20 percent in May of 2020. This page includes a chart with historical data for Australia Monthly CPI Indicator. Australia Monthly CPI Indicator - data, historical chart, forecasts and calendar of releases - was last updated on August of 2023.

Monthly CPI Indicator in Australia is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Monthly CPI Indicator is projected to trend around 2.00 percent in 2024 and 1.70 percent in 2025, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
Width
Height
 Preview

Australia Monthly CPI Indicator



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-26 01:30 AM Jun 5.4% 5.5% 5.4% 5.5%
2023-08-30 01:30 AM Jul 4.9% 5.4% 5.2% 5.1%
2023-09-27 01:30 AM Aug 4.9%

Australia Monthly CPI Indicator
In Australia, the Monthly CPI Indicator measures monthly changes in the price of a 'basket' of goods and services which account for a high proportion of expenditure by the CPI population group (i.e. metropolitan households).
Actual Previous Highest Lowest Dates Unit Frequency
4.90 5.40 8.40 -0.20 2018 - 2023 percent Monthly
NSA

News Stream
Australia Monthly CPI Inflation Hits 17-Month Low
The monthly Consumer Price Index (CPI) indicator in Australia increased by 4.9% in the year to July 2023, slowing from a 5.4% gain in June and below the market consensus of a 5.2% rise. This was the lowest inflation rate since February 2022, mainly due to a slowdown in housing and food prices, although it remained well above the Reserve Bank of Australia's target range of 2-3%. Inflation eased for housing (7.3% vs 7.4%), with new dwelling prices rising the least since October 2021 at 5.9%; food and non-alcoholic beverages rose the least since May 2022 (5.6% vs 7.0%), due mainly to falls in fruit & vegetable prices; communications (0.3% vs 0.6%); recreation & culture (4.1% vs 6.8%); and furnishing, household equipment and services (4.3% vs 6.3%). By contrast, transport prices rebounded (0.3% vs -0.9%), with automotive fuel prices falling at a softer pace. The monthly CPI indicator excluding volatile items and travel advanced by 5.8% in July, down from the rise of 6.1% in June.
2023-08-30
Australia Monthly CPI Inflation Hits 16-Month Low
The monthly Consumer Price Index (CPI) indicator in Australia increased by 5.4% in the year to June 2023, easing from a downwardly revised 5.5% rise in May and matching the market consensus. This was the lowest inflation rate since February 2022, mainly due to a slowdown in housing and food prices, as well as a decline in transport prices, although it remained well above the Reserve Bank of Australia's target range of 2-3%. Inflation eased for housing (7.4% vs 8.3%), driven by new dwelling purchases by owner-occupiers and utilities; food and non-alcoholic beverages (7.0% vs 7.9%); communications (0.6% vs 1.1%); and education (5.2% vs 5.5%). Additionally, there were declines in transport prices (-0.9% vs 0.8%), with automotive fuel prices falling the most since January 2021, and clothing and footwear costs (-0.7% vs -0.4%). The monthly CPI indicator excluding volatile items and travel increased by 6.1% in June, down from the rise of 6.4% in May.
2023-07-26
Australia CPI Inflation Eases to 13-Month Low
The monthly Consumer Price Index (CPI) indicator in Australia advanced 5.6% in the year to May 2023, slowing from a 6.8% rise in the year to April 2023, and below the market consensus of 6.1%. It was the lowest annual inflation rate since April 2022, due mainly to a softer pace in the growth of both housing and transport prices. Cost slowed for transport (0.8% vs 7.1% in April), with automotive fuel prices falling (-8.0% vs 9.5%); housing (8.4.% vs 8.9%), namely, new dwellings (8.3% vs 9.2%), which was the lowest annual growth since November 2021; recreation & culture (3.5% vs 6.4%), mostly holiday travel & accommodation (7.3% vs 11.9%). Meanwhile, food and non-alcoholic beverages inflation was steady (at 7.9%). The monthly CPI indicator, excluding volatile fruit and vegetable items and fuel, was down to 6.4% in May from 6.5% in April. Inflation remained well above the Reserve Bank of Australia's target range of 2-3%.
2023-06-28