Inflation Australia 1978
Average inflation: 8.0%
Current Inflation
Inflation is very high at 8.0%, far above the ECB target.
Peak and Trough
The highest inflation was in February at 8.7%. The lowest inflation was in November at 7.6%.
- Highest month
- February: 8.7%
- Lowest month
- November: 7.6%
- Difference
- 1.1 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is 4.9% lower than the 5-year average of 12.9%.
- 5-year average
- 12.9%
- 10-year average
- 9.2%
- All-time high (1974)
- 15.4%
- All-time low (1962)
- -0.3%
Trend
Inflation shows a downward trend. Compared to 1977, inflation has fallen by +4.4 percentage point.
- Change vs. previous year
- -4.4 percentage points
- Largest monthly swing
- May: -5.6 percentage points
ECB Target
Inflation is 6.0% 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 €108.00 next year at this inflation rate.
Multi-year trend
Monthly figures 1978
Month overview
| Month | Inflation | Difference vs. 1977 |
|---|---|---|
| February | 8.7% | -4.6 |
| May | 8.0% | -5.6 |
| August | 7.8% | -5.5 |
| November | 7.6% | -1.8 |
| Average | 8.0% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.