Inflation Australia 1971
Average inflation: 6.1%
Current Inflation
Inflation is very high at 6.1%, far above the ECB target.
Peak and Trough
The highest inflation was in August at 7.1%. The lowest inflation was in February at 5.2%.
- Highest month
- August: 7.1%
- Lowest month
- February: 5.2%
- Difference
- 1.9 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is 2.3% higher than the 5-year average of 3.8%. This approaches the highest level since records began (6.1% in 1971).
- 5-year average
- 3.8%
- 10-year average
- 2.9%
- All-time high (1971)
- 6.1%
- All-time low (1962)
- -0.3%
Trend
Inflation shows an upward trend. Compared to 1970, inflation has risen by +2.6 percentage point.
- Change vs. previous year
- +2.6 percentage points
- Largest monthly swing
- August: +3.9 percentage points
ECB Target
Inflation is 4.1% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for €100 this year will cost approximately €106.10 next year at this inflation rate.
Multi-year trend
Monthly figures 1971
Month overview
| Month | Inflation | Difference vs. 1970 |
|---|---|---|
| February | 5.2% | +3.1 |
| May | 5.2% | +2.0 |
| August | 7.1% | +3.9 |
| November | 7.0% | +1.7 |
| Average | 6.1% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.