Inflation Australia 2002
Average inflation: 3.0%
Current Inflation
Inflation is high at 3.0%, well above the ECB target.
Peak and Trough
The highest inflation was in August at 3.2%. The lowest inflation was in May at 2.8%.
- Highest month
- August: 3.2%
- Lowest month
- May: 2.8%
- Difference
- 0.4 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is around the 5-year average of 2.9%.
- 5-year average
- 2.9%
- 10-year average
- 2.6%
- All-time high (1983)
- 10.1%
- All-time low (1997)
- 0.2%
Trend
Inflation shows a downward trend. Compared to 2001, inflation has fallen by +1.4 percentage point.
- Change vs. previous year
- -1.4 percentage points
- Largest monthly swing
- May: -3.3 percentage points
ECB Target
Inflation is 1.0% above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this inflation rate, purchasing power noticeably decreases. Without a salary increase, you can buy less with the same money.
What you could buy for €100 this year will cost approximately €103.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2002
Month overview
| Month | Inflation | Difference vs. 2001 |
|---|---|---|
| February | 3.0% | -3.0 |
| May | 2.8% | -3.3 |
| August | 3.2% | +0.7 |
| November | 2.9% | -0.2 |
| Average | 3.0% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.