Inflation in Australia
Australia - Inflation (end of period)
Inflation resurfaces in Q3
In the third quarter of 2020, consumer prices jumped 1.6% over the previous quarter swinging from a 1.9% dive in Q2—which had marked the sharpest drop on record. Q3’s rebound was mainly the result of soaring prices for furnishings, household equipment and services, and of higher prices for education and transport.
Annual inflation came in at 0.7% in Q3 contrasting Q2’s 0.4% drop in consumer prices—which had marked the lowest reading since Q3 1997. Therefore, inflation got closer to the Reserve Bank’s 2.0%–3.0% target band.
Our panelists see inflation averaging 1.4% in 2021 and 1.6% in 2022%.
Australia - Inflation (eop) Data
|Inflation Rate (CPI, annual variation in %, eop)||1.7||1.5||1.9||1.8||1.8|
5 years of economic forecasts for more than 30 economic indicators.
Australia Inflation (eop) Chart
Source: Australia Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||1.37||1.47 %||Dec 31|
|Exchange Rate||0.70||0.05 %||Dec 31|
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January 21, 2021
Seasonally-adjusted employment soared by 50,000 in November, following 90,000 jobs gain in November.
January 21, 2021
The Westpac-Melbourne Institute consumer sentiment index dropped to 107.0 in January from 112.0 in December—which had marked the highest reading since October 2010.
January 11, 2021
Nominal retail sales in November soared 7.1% over the previous month in seasonally-adjusted terms, following October’s 1.4% increase. Particularly pronounced increases were recorded in household goods retailing, clothing, footwear and personal accessory retailing, department stores, cafes, restaurants and takeaway food services and other retailing. In annual terms, retail sales jumped 12.1% in November, following October’s 7.7% expansion.
December 17, 2020
Seasonally-adjusted employment soared by 90,000 in November, following revised 180,400 jobs gain in October (previously reported: +178,800).
December 11, 2020
The business confidence index produced by National Australia Bank (NAB) soared from 3.2 points in October to 12.4 points in November, marking the highest reading since April 2018.