Inflation Australia 2003
Average inflation: 2.7%
Current Inflation
Inflation is normal at 2.7%, around the ECB target.
Peak and Trough
The highest inflation was in February at 3.3%. The lowest inflation was in November at 2.4%.
- Highest month
- February: 3.3%
- Lowest month
- November: 2.4%
- Difference
- 0.9 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is 0.5% lower than the 5-year average of 3.2%.
- 5-year average
- 3.2%
- 10-year average
- 2.6%
- All-time high (1986)
- 9%
- All-time low (1997)
- 0.2%
Trend
Inflation shows a downward trend. Compared to 2002, inflation has fallen by +0.3 percentage point.
- Change vs. previous year
- -0.3 percentage points
- Largest monthly swing
- August: -0.6 percentage points
ECB Target
Inflation is 0.7% 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 €102.70 next year at this inflation rate.
Multi-year trend
Monthly figures 2003
Month overview
| Month | Inflation | Difference vs. 2002 |
|---|---|---|
| February | 3.3% | +0.3 |
| May | 2.6% | -0.2 |
| August | 2.6% | -0.6 |
| November | 2.4% | -0.5 |
| Average | 2.7% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.