Inflation Rate 2024 Australia. Australia’s inflation rate, or cpi, rose 1.8% in the last quarter and 7.3% annually, overtaking the abs’ june figure as the highest inflation rate since 1990. An improving view of china, australia’s largest trading partner, also helped both asset managers and hedge funds simultaneously turn bullish on the currency for the first time.
The consumer price index (cpi) is a quarterly measure of inflation published by the australian bureau of statistics (abs). The cost of car insurance rose significantly by an average of 25% in 2023 alone with average annual premiums increasing to £543 from £434 in 2022, according to the abi.