Australia Inflation


Australia: Inflation eases to one-year low in Q3

October 22, 2014

In the third quarter of 2014, consumer prices rose 0.5% over the previous quarter, which mirrored the rise tallied in Q2. The result was slightly above market expectations of a 0.4% increase. The quarterly figure reflected that higher prices for fruit, property rates and charges as well as motor vehicles services more than offset lower prices for electricity and automotive fuel.

Annual inflation eased significantly from 3.0% in the second quarter to 2.3% in the third, which marked the lowest reading in one year. However, annual average inflation rose slightly from 2.7% in Q2 to 2.8% in Q3.

FocusEconomics panelists expect that inflation will average 2.6% in 2014, which is down 0.1 percentage points from last month's forecast. For 2015, panelists see average inflation of 2.5%, which is unchanged from the previous month’s forecast.

Author: Angela Bouzanis, Senior Economist

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Australia Inflation Chart

Australia Inflation Q3 2014

Note: Year-on-year and quarter-on-quarter variation of consumer price index in %.
Source: Australian Bureau of Statistics.

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