Sydney Australia skyline

Australia Inflation Q2 2020

Australia: Annual consumer prices fell for first time since 1998

In the second quarter of 2020, consumer prices dived 1.9% over the previous quarter swinging from a 0.3 % increase in Q1. The figure broadly matched market expectations of a 2.0% decrease and marked the sharpest drop on record. Q2’s slump was mainly the result of falling oil prices as well as of the government’s decision to make childcare free from early April to late June.

Annual prices fell 0.3% in Q2 contrasting Q1’s 2.2% rise and largely in line with market expectations of a 0.4% decline. The result marked the lowest reading since Q3 1997. Therefore, inflation tumbled well below the Reserve Bank’s 2.0%–3.0% target band.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest