Inflation Australia 1974
Average inflation: 15.4%
Current Inflation
Inflation is very high at 15.4%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 16.7%. The lowest inflation was in February at 14.0%.
- Highest month
- November: 16.7%
- Lowest month
- February: 14.0%
- Difference
- 2.7 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is 7.4% higher than the 5-year average of 8.0%. This approaches the highest level since records began (15.4% in 1974).
- 5-year average
- 8%
- 10-year average
- 5.6%
- All-time high (1974)
- 15.4%
- All-time low (1962)
- -0.3%
Trend
Inflation shows an upward trend. Compared to 1973, inflation has risen by +6.3 percentage point.
- Change vs. previous year
- +6.3 percentage points
- Largest monthly swing
- February: +8.4 percentage points
ECB Target
Inflation is 13.4% 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 €115.40 next year at this inflation rate.
Multi-year trend
Monthly figures 1974
Month overview
| Month | Inflation | Difference vs. 1973 |
|---|---|---|
| February | 14.0% | +8.4 |
| May | 14.4% | +6.1 |
| August | 16.4% | +6.5 |
| November | 16.7% | +4.2 |
| Average | 15.4% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.