Inflation & Prices•Series ID: GCPIAGYP•1923–2026
Australian Inflation Rate (CPI) - Historical Data
The headline Consumer Price Index (CPI) measures quarterly percentage changes in the price of a fixed basket of goods and services acquired by Australian metropolitan households.
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Current Statistics & Historical Records
Latest Reading (2026 Q2)
3.9%
Prev (2026 Q1): 4.1%-0.2 pp
Highest Recorded (1951 Q4)
25.6%
Korean War wool price boom & inflation spike
Lowest Recorded (1931 Q3)
-11.6%
Premiers' Plan & Depression deflation trough
Long-Run Mean (1923–2026)
4.0%
104 annual observations · Quarterly
Australian Inflation Rate (CPI) - Historical Series (1923–2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full annual history (1923–2026) and recent quarterly releases.
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Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (GCPIAGYP) Latest: 3.9 % p.a. (2026 Q2)
Australian Inflation Rate (CPI) by Decade (1923–2026)
Decade averages, peaks, and troughs across Australian economic cycles
1920s1923–1929
1.1%
High (1923):3.6%
Low (1924):-1.8%
1930s1930–1939
-1.1%
High (1938):2.8%
Low (1931):-10.4%
1940s1940–1949
4.4%
High (1949):9.0%
Low (1944):-0.4%
1950s1950–1959
6.5%
High (1951):19.6%
Low (1954):0.8%
1960s1960–1969
2.5%
High (1960):3.8%
Low (1962):-0.2%
1970s1970–1979
9.8%
High (1974):15.2%
Low (1970):3.8%
1980s1980–1989
8.4%
High (1982):11.2%
Low (1984):4.0%
1990s1990–1999
2.5%
High (1990):7.3%
Low (1997):0.2%
2000s2000–2009
3.2%
High (2000):4.4%
Low (2009):1.8%
2010s2010–2019
2.1%
High (2011):3.4%
Low (2016):1.3%
2020s2020–2026
3.7%
High (2022):6.6%
Low (2020):0.8%
Australian Inflation Rate (CPI) - Historical Table (1923–2026)
Unit: % p.a. · Source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (GCPIAGYP)
| Year | Inflation (CPI) (% p.a.) | Year Range (Low – High) | Historical Context / Year Snapshot |
|---|---|---|---|
| 2026 | 4.0% | 3.9% – 4.1% | The Australian Economy in 2026 → |
| 2025 | 2.8% | 2.1% – 3.6% | Disinflation & monetary policy recalibration |
| 2024 | 3.2% | 2.4% – 3.8% | The Australian Economy in 2024 → |
| 2023 | 5.6% | 4.1% – 7.0% | The Australian Economy in 2023 → |
| 2022 | 6.6% | 5.1% – 7.9% | Post-pandemic inflation surge & rapid RBA tightening cycle |
| 2021 | 2.9% | 1.1% – 3.8% | The Australian Economy in 2021 → |
| 2020 | 0.8% | -0.3% – 2.2% | COVID-19 pandemic shock & 0.10% cash rate floor |
| 2019 | 1.6% | 1.3% – 1.8% | The Australian Economy in 2019 → |
| 2018 | 1.9% | 1.8% – 2.1% | The Australian Economy in 2018 → |
| 2017 | 1.9% | 1.8% – 2.1% | The Australian Economy in 2017 → |
| 2016 | 1.3% | 1.0% – 1.5% | The Australian Economy in 2016 → |
| 2015 | 1.5% | 1.3% – 1.7% | The Australian Economy in 2015 → |
| 2014 | 2.5% | 1.7% – 3.1% | The Australian Economy in 2014 → |
| 2013 | 2.5% | 2.2% – 2.7% | The Australian Economy in 2013 → |
| 2012 | 1.7% | 1.2% – 2.2% | The Australian Economy in 2012 → |
| 2011 | 3.4% | 3.1% – 3.6% | China mining investment & Terms of Trade supercycle peak |
| 2010 | 2.9% | 2.7% – 3.1% | The Australian Economy in 2010 → |
| 2009 | 1.8% | 1.2% – 2.4% | The Australian Economy in 2009 → |
| 2008 | 4.4% | 3.7% – 5.0% | Global Financial Crisis (GFC) & emergency rate cuts |
| 2007 | 2.4% | 1.9% – 3.0% | The Australian Economy in 2007 → |
| 2006 | 3.5% | 3.0% – 4.0% | The Australian Economy in 2006 → |
| 2005 | 2.7% | 2.3% – 3.1% | The Australian Economy in 2005 → |
| 2004 | 2.4% | 2.0% – 2.6% | The Australian Economy in 2004 → |
| 2003 | 2.8% | 2.4% – 3.4% | The Australian Economy in 2003 → |
| 2002 | 3.0% | 2.8% – 3.3% | The Australian Economy in 2002 → |
| 2001 | 4.4% | 2.5% – 6.1% | The Australian Economy in 2001 → |
| 2000 | 4.4% | 2.8% – 6.0% | Introduction of the 10% Goods and Services Tax (GST) |
| 1999 | 1.4% | 1.1% – 1.8% | The Australian Economy in 1999 → |
| 1998 | 0.9% | -0.2% – 1.6% | The Australian Economy in 1998 → |
| 1997 | 0.2% | -0.3% – 1.3% | The Australian Economy in 1997 → |
| 1996 | 2.6% | 1.5% – 3.7% | The Australian Economy in 1996 → |
| 1995 | 4.6% | 3.9% – 5.1% | The Australian Economy in 1995 → |
| 1994 | 1.9% | 1.4% – 2.5% | The Australian Economy in 1994 → |
| 1993 | 1.8% | 1.2% – 2.2% | RBA formalises 2–3% inflation targeting |
| 1992 | 1.0% | 0.3% – 1.7% | The Australian Economy in 1992 → |
| 1991 | 3.2% | 1.5% – 4.8% | Early 1990s recession ("The recession we had to have") |
| 1990 | 7.3% | 6.1% – 8.6% | Monetary tightening peak (17.5% Cash Rate) |
| 1989 | 7.5% | 6.8% – 8.0% | The Australian Economy in 1989 → |
| 1988 | 7.2% | 6.9% – 7.6% | The Australian Economy in 1988 → |
| 1987 | 8.5% | 7.1% – 9.4% | October 1987 sharemarket crash |
| 1986 | 9.1% | 8.5% – 9.7% | The Australian Economy in 1986 → |
| 1985 | 6.7% | 4.4% – 8.2% | The Australian Economy in 1985 → |
| 1984 | 4.0% | 2.6% – 5.9% | The Australian Economy in 1984 → |
| 1983 | 10.1% | 8.6% – 11.4% | Float of the Australian Dollar & Prices and Incomes Accord |
| 1982 | 11.2% | 10.6% – 12.5% | Early 1980s recession & drought |
| 1981 | 9.6% | 8.8% – 11.2% | The Australian Economy in 1981 → |
| 1980 | 10.2% | 9.2% – 10.9% | The Australian Economy in 1980 → |
| 1979 | 9.0% | 8.1% – 10.1% | The Australian Economy in 1979 → |
| 1978 | 8.0% | 7.8% – 8.2% | The Australian Economy in 1978 → |
| 1977 | 12.4% | 9.2% – 13.9% | The Australian Economy in 1977 → |
| 1976 | 13.3% | 11.9% – 14.2% | The Australian Economy in 1976 → |
| 1975 | 15.2% | 12.2% – 17.5% | The Australian Economy in 1975 → |
| 1974 | 15.2% | 13.6% – 16.4% | 1974 wage explosion & stagflation peak |
| 1973 | 9.2% | 5.7% – 13.0% | First OPEC oil shock |
| 1972 | 6.0% | 4.7% – 7.1% | The Australian Economy in 1972 → |
| 1971 | 5.9% | 4.6% – 7.2% | The Australian Economy in 1971 → |
| 1970 | 3.8% | 3.1% – 4.7% | The Australian Economy in 1970 → |
| 1969 | 3.0% | 3.0% | The Australian Economy in 1969 → |
| 1968 | 2.7% | 1.9% – 3.1% | The Australian Economy in 1968 → |
| 1967 | 3.2% | 2.7% – 4.5% | The Australian Economy in 1967 → |
| 1966 | 3.2% | 2.6% – 4.0% | Decimal currency transition (£ to AUD) |
| 1965 | 3.8% | 3.4% – 4.1% | The Australian Economy in 1965 → |
| 1964 | 2.5% | 1.5% – 3.5% | The Australian Economy in 1964 → |
| 1963 | 0.3% | 0.0% – 0.7% | The Australian Economy in 1963 → |
| 1962 | -0.2% | -0.7% – 0.0% | The Australian Economy in 1962 → |
| 1961 | 2.5% | 0.7% – 4.4% | Menzies credit squeeze |
| 1960 | 3.8% | 2.4% – 4.5% | The Australian Economy in 1960 → |
| 1959 | 1.9% | 1.4% – 2.4% | The Australian Economy in 1959 → |
| 1958 | 1.1% | 0.8% – 1.6% | The Australian Economy in 1958 → |
| 1957 | 2.7% | 0.8% – 5.8% | The Australian Economy in 1957 → |
| 1956 | 5.9% | 3.5% – 7.6% | The Australian Economy in 1956 → |
| 1955 | 2.2% | 0.9% – 3.6% | The Australian Economy in 1955 → |
| 1954 | 0.8% | 0.0% – 1.6% | The Australian Economy in 1954 → |
| 1953 | 4.4% | 1.8% – 7.6% | The Australian Economy in 1953 → |
| 1952 | 17.7% | 9.8% – 23.5% | The Australian Economy in 1952 → |
| 1951 | 19.6% | 14.5% – 25.6% | Korean War wool price boom & inflation spike |
| 1950 | 9.1% | 7.0% – 10.8% | The Australian Economy in 1950 → |
| 1949 | 9.0% | 8.5% – 9.9% | - |
| 1948 | 8.8% | 7.1% – 10.0% | - |
| 1947 | 3.7% | 2.5% – 5.6% | - |
| 1946 | 1.8% | 1.0% – 2.4% | - |
| 1945 | 0.0% | -0.3% – 0.3% | - |
| 1944 | -0.4% | -1.6% – 0.3% | - |
| 1943 | 3.7% | 0.1% – 6.6% | - |
| 1942 | 8.1% | 5.8% – 9.6% | - |
| 1941 | 5.3% | 4.4% – 7.0% | - |
| 1940 | 4.1% | 1.2% – 6.5% | - |
| 1939 | 2.5% | 1.2% – 3.8% | - |
| 1938 | 2.8% | 2.4% – 3.3% | - |
| 1937 | 2.7% | 2.3% – 3.1% | - |
| 1936 | 2.2% | 1.7% – 2.9% | - |
| 1935 | 1.8% | 1.1% – 2.3% | - |
| 1934 | 1.6% | 1.3% – 1.9% | - |
| 1933 | -3.1% | -5.4% – -0.6% | - |
| 1932 | -4.9% | -6.5% – -3.6% | - |
| 1931 | -10.4% | -11.6% – -8.8% | Premiers' Plan & Depression deflation trough |
| 1930 | -5.9% | -10.3% – -2.9% | - |
| 1929 | 2.3% | 1.8% – 2.6% | Wall Street Crash & onset of Great Depression |
| 1928 | 0.8% | -0.5% – 2.1% | - |
| 1927 | -0.9% | -3.0% – 0.5% | - |
| 1926 | 1.4% | 0.5% – 2.7% | - |
| 1925 | 2.0% | 0.8% – 2.9% | - |
| 1924 | -1.8% | -3.7% – 1.4% | - |
| 1923 | 3.6% | 2.3% – 4.6% | - |
Related Australian Economic Statistics
Trimmed Mean Core InflationInflation & Prices · 1983–2026
3.6%2026 Q2
Australian Consumer Price Index (CPI Level)Inflation & Prices · 1922–2026
102.312026 Q2
Monthly CPI IndicatorInflation & Prices · 2025–2026
4.0%Aug 2026
RBA Cash Rate Target & Overnight Cash RateInterest Rates · 1976–2026
4.36%Sep 2026
Compare Inflation (CPI) against another indicator →
Source Information & Methodology
- Primary Institution:
- Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS)
- Dataset / Publication:
- Consumer Price Inflation - All Groups Year-Ended Change
- Series / Table ID:
- RBA Statistical Table G1 (GCPIAGYP)
- Release Frequency:
- Quarterly
• Primary source: Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) - Consumer Price Inflation - All Groups Year-Ended Change (RBA Statistical Table G1).
• Observation frequency: Quarterly. Annual table values represent calendar year averages.
• Series coverage spans 1923 to 2026 (104 annual observations).
APA Citation:Reserve Bank of Australia & Australian Bureau of Statistics. (2026). Consumer Price Inflation - All Groups Year-Ended Change (G1: GCPIAGYP). Retrieved October 2026 from https://www.rba.gov.au/statistics/tables/
Frequently Asked Questions: Australian Inflation Rate (CPI)
- What is the current Australian Inflation Rate (CPI)?
- As of 2026 Q2, the latest recorded Australian Inflation Rate (CPI) is 3.9 (% p.a.), compared with 4.1 in 2026 Q1.
- What is the highest and lowest Australian Inflation Rate (CPI) ever recorded in Australia?
- Across the historical series (1923–2026), the highest observation was 25.6 (% p.a.) in 1951 Q4, while the lowest was -11.6 (% p.a.) in 1931 Q3. The long-run historical average is 4.0.
- Where is the official Australian Inflation Rate (CPI) data sourced from?
- This series is compiled from Reserve Bank of Australia (RBA) / Australian Bureau of Statistics (ABS) (Consumer Price Inflation - All Groups Year-Ended Change, Series ID: GCPIAGYP) and is updated on a quarterly basis under CC BY 4.0 International / RBA Terms.