Average inflation measured by CPI reached 1.61 % in 2019 in Australia, according to the National Statistical Office. This is 15.8 % less than in the previous year.
Historically, average inflation measured by CPI in Australia reached an all time high of 15.4 % in 1974 and an all time low of -0.319 % in 1962. When compared to Australia's main peers, average inflation measured by CPI in Indonesia amounted to 2.82 %, 0.663 % in Malaysia, 1.62 % in New Zealand and 3.68 % in Papua New Guinea in 2019.
Australia has been ranked 113th within the group of 175 countries we follow in terms of average inflation measured by CPI, 3 places above the position seen 10 years ago.
Inflation as measured by the consumer price index (CPI) 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.