Inflation Australia 2004
Average inflation: 2.3%
Current Inflation
Inflation is normal at 2.3%, around the ECB target.
Peak and Trough
The highest inflation was in May at 2.5%. The lowest inflation was in February at 2.0%.
- Highest month
- May: 2.5%
- Lowest month
- February: 2.0%
- Difference
- 0.5 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is 1.1% lower than the 5-year average of 3.4%.
- 5-year average
- 3.4%
- 10-year average
- 2.7%
- All-time high (1986)
- 9%
- All-time low (1997)
- 0.2%
Trend
Inflation has remained relatively stable. Compared to 2003, the difference is minimal (-0.4 percentage point).
- Change vs. previous year
- -0.4 percentage points
- Largest monthly swing
- February: -1.3 percentage points
ECB Target
Inflation is close to the ECB target of 2.0%.
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 €102.30 next year at this inflation rate.
Multi-year trend
Monthly figures 2004
Month overview
| Month | Inflation | Difference vs. 2003 |
|---|---|---|
| February | 2.0% | -1.3 |
| May | 2.5% | -0.1 |
| August | 2.3% | -0.3 |
| November | 2.5% | +0.1 |
| Average | 2.3% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.