According to data released by the Australian Bureau of Statistics on Wednesday, the consumer price index rose by three per cent in the last 12 months, compared to just 2.8 per cent in August and 1.9 per cent in July. This growth rate is the highest rate since August 2024, when the inflation rate reached 3.5 percent.
The annual inflation rate in Australia rose to 3 percent in August this year, which is the highest rate in the last 13 months. This increase is a sign of more pressure for the common people who are under the pressure of high prices.
According to data released by the Australian Bureau of Statistics on Wednesday, the consumer price index rose by three per cent in the last 12 months, compared to just 2.8 per cent in August and 1.9 per cent in July. This growth rate is the highest rate since August 2024, when the inflation rate reached 3.5 percent.
According to the Statistics Office, the main contributors to the rise in prices are a 4.5 percent increase in housing costs, a 3 percent increase in food and soft drinks, and a 6 percent increase in cigarettes. The electricity tariff has increased by 24.6 percent. This increase was seen after the end of the government relief scheme. According to the office, if the effect of relief is removed, the price increase of electricity is only 5.9 percent.
The basic inflation rate preferred by the National Bank is 2.6 percent in August, which has decreased by 0.1 percent compared to the previous month.
According to estimates released by Australia's Monetary Policy Committee in August, the inflation rate will reach above 3 percent in the current half year and will return to the target of two to three percent only in the middle of 2027.
Likewise, the basic inflation rate is expected to remain stable throughout the years 2026 and 2027.
