What Is The Inflation Rate In Australia 2024. The monthly consumer price index (cpi) indicator rose 4.0 per cent in the 12 months to may 2024, up from 3.6 per cent in april, according to the latest data from. 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%.

Our goal is to keep annual consumer price inflation between 2 and 3 per cent. Inflation in underlying terms remains too high and it will be some time yet before inflation is.