2024 Inflation Rate Australia. The current inflation rate in australia is 2.81%, which is calculated based on cpi (consumer price index) values for the last 12 months ending in 2024 q3. The consumer price index (cpi) rose 0.2 per cent in the september 2024 quarter and 2.8 per cent annually, according to the latest data from the australian bureau of statistics.

Annual cpi inflation was 3.6 per cent in the march 2024 quarter, lower than the 4.1 per cent annual rise in the previous quarter. At its august 2024 meeting, the reserve bank board decided to hold the cash rate.