Australia Inflation


Australia: Inflation hits over two year low in Q4

January 28, 2015

In the last quarter of 2014, consumer prices rose 0.2% over the previous quarter, which was just below the 0.5% rise tallied in Q3. The result was slightly below market expectations of a 0.3% increase. The quarterly figure mainly reflected lower prices for transport, resulting from lower oil prices, as well as for healthcare. Conversely, prices for alcohol and tobacco and recreation and culture were higher than in the previous quarter.

Annual inflation eased significantly from 2.3% in Q3 to 1.7% in Q4, which marked the lowest reading since Q2 2012. Following the marked drop in annual inflation figures, annual average inflation declined from 2.8% in Q3 to 2.5% in Q4, marking the lowest rate that has been seen in a year.

FocusEconomics panelists expect that inflation will average 2.6% in 2015, which is down 0.1 percentage points from last month's forecast. For 2016, panelists see average inflation of 2.5%.

Author:, Economist

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Australia Inflation Chart

Australia Inflation Q4 2014

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

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