Inflation rate Australia

The inflation rate in Australia is a measure of the average change in the prices of goods and services over time. It is calculated by the Australian Bureau of Statistics (ABS) using a weighted average of the prices of a basket of goods and services that are purchased by Australian households.

The inflation rate is an important economic indicator as it can be used to measure the purchasing power of money and to inform decisions about interest rates and fiscal policy.

In recent years, the inflation rate in Australia has been relatively low. In the year to September 2022, the inflation rate was 2.2%, which was within the Reserve Bank of Australia's (RBA) target range of 2-3%.

However, the inflation rate has started to increase in recent months, due to a number of factors, including the COVID-19 pandemic, supply chain disruptions, and the war in Ukraine.

The RBA is closely monitoring the inflation rate and has indicated that it is prepared to raise interest rates if necessary to keep inflation within its target range. The next interest rate decision is due on 7 February 2023.

Here are some of the factors that could affect the inflation rate in Australia in the coming months:

• The global economic outlook
• The war in Ukraine
• Supply chain disruptions
• Wage growth
• Government policy

The inflation rate is a complex issue and there are a number of different factors that can affect it. It is important to be aware of these factors when making decisions about your personal finances.

If you are concerned about the inflation rate, there are a number of things you can do to protect your finances, such as:

• Investing in assets that are likely to retain their value during periods of inflation, such as property or gold.
• Comparing prices and shopping around for the best deals.


• Negotiating your salary and other expenses.


• Saving money in a high-interest savings account.

By taking these steps, you can help to protect your finances from the effects of inflation.