2024 Inflation Rate Australia

2024 Inflation Rate Australia. Data have reinforced the need to remain vigilant to upside risks to inflation. It was the first increase in annual cpi figures since q4 of 2022, amid higher inflation for both goods (3.2% vs 3.1% in q1) and services (4.5% vs 4.3%).

Inflation is an increase in the level of prices of the goods and services that households typically buy. This marks the fifth consecutive quarter of lower annual inflation since the peak of 7.8 per cent in the december 2022 quarter.