Inflation 2024 Australia. Australia's annual rate of inflation has risen to 3.8 per cent, up from 3.6 per cent at the start of the year. Australia inflation rate for 2022 was 6.59%, a 3.73% increase from 2021.

Australia’s inflation rate peaked in december 2022 at 7.8%, and while it dipped to 3.6% earlier this year, monthly cpi has inched up to 4%. The monthly cpi indicator rose 3.6% in the 12 months to april.