Inflation Australia 2021
Average inflation: 2.9%
Current Inflation
Inflation is normal at 2.9%, around the ECB target.
Peak and Trough
The highest inflation was in May at 3.8%. The lowest inflation was in February at 1.1%.
- Highest month
- May: 3.8%
- Lowest month
- February: 1.1%
- Difference
- 2.7 percentage points
- Months with data
- 4 of 12
Historical Context
Current inflation is 1.1% higher than the 5-year average of 1.8%.
- 5-year average
- 1.8%
- 10-year average
- 1.9%
- All-time high (2008)
- 4.3%
- All-time low (2020)
- 0.9%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +2.0 percentage point.
- Change vs. previous year
- +2.0 percentage points
- Largest monthly swing
- May: +4.1 percentage points
ECB Target
Inflation is 0.9% 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 €102.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| February | 1.1% | -1.1 |
| May | 3.8% | +4.1 |
| August | 3.0% | +2.3 |
| November | 3.5% | +2.6 |
| Average | 2.9% |
Data source
Data from OECD. Last updated: 24/11/2025.Not all months available yet.