Australia's annual food price inflation fell to 3.8% in the first quarter of 2024 from 4.5% in the previous three-month period. The latest figure marked the lowest level since the fourth quarter of 2021. source: Australian Bureau of Statistics
Cost of food in Australia increased 4.50 percent in December of 2023 over the same month in the previous year. Food Inflation in Australia averaged 5.17 percent from 1973 until 2024, reaching an all time high of 20.60 percent in the fourth quarter of 1973 and a record low of -3.20 percent in the second quarter of 2012. This page provides - Australia Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Australia Food Inflation - values, historical data and charts - was last updated on April of 2024.
Cost of food in Australia increased 4.50 percent in December of 2023 over the same month in the previous year. Food Inflation in Australia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Australia Food Inflation is projected to trend around 1.90 percent in 2025 and 2.00 percent in 2026, according to our econometric models.