According to the latest figures from the Australian Bureau of Statistics, the Consumer Price Index (CPI) climbed 1.3 percent in the December 2021 quarter and 3.5 percent annually (ABS).
What is the current rate of inflation in 2021?
The United States’ annual inflation rate has risen from 3.2 percent in 2011 to 4.7 percent in 2021. This suggests that the dollar’s purchasing power has deteriorated in recent years.
What is the inflation rate in Australia in 2022?
Australians predicted 4.9 percent annual inflation for the next two years in January 2022, up 0.1 percent points from December 2021. Inflation Expectations in January matched the seven-year high set in November 2021 the highest level since November 2014.
What is the Consumer Price Index (CPI) for September 2021?
In September 2021, the UK’s inflation rate, as measured by the CPI, was 3.1 percent. The following are the inflation measures for the year ending September 2021: In September 2021 (Index: 112.4), CPIH inflation was 2.9 percent, down from 3.0 percent in August 2021.
What was the CPI from December 2021 to December 2022?
All capital cities had an increase in new home purchases by owner-occupiers (+4.2%). Builders were able to pass on increases in material and labor prices due to the continued high demand for dwelling development. Price increases were also aided by ongoing supply restrictions for materials and labor in several cities. Hobart (+8.5%) had the highest price increase, followed by Adelaide (+6.8%) and Brisbane (+6.4%).
During the quarter, automotive fuel prices grew by 6.6%, with significant increases in all capital cities. As a result of the relaxation of COVID-19 limits, prices surged due to increasing worldwide demand for oil. Hobart (+12.4 percent) had the highest price increase, followed by Darwin (+9.9 percent) and Perth (+9.4 percent).
Domestic holiday travel and lodging grew (+4.8%) as border closures eased during the quarter, resulting in higher demand for domestic airfares and lodging. The most significant price increases were seen in Sydney (+7.8%), Perth (+5.3%), and Melbourne (+4.1%).
What is a healthy rate of inflation?
Inflation that is good for you Inflation of roughly 2% is actually beneficial for economic growth. Consumers are more likely to make a purchase today rather than wait for prices to climb.
What is the unemployment rate in Australia?
According to fresh data issued today by the Australian Bureau of Statistics (ABS), Australia’s unemployment rate has dropped to its lowest level in almost 13 years, touching 4%. The result outperformed market forecasts, which predicted a decline to 4.1%. In August 2008, unemployment was at 4% for the first time.
What is the expected rate of inflation over the next ten years?
Forecasters expect current-quarter headline CPI inflation to average 5.5 percent, up from the previous survey’s projection of 3.0 percent. The current quarter’s headline PCE inflation will be 4.7 percent, up from the earlier projection of 3.0 percent.
In comparison to the three-month-ago poll, predictions for headline and core CPI and PCE inflation in 2022 have been revised upward.
Forecasters expect that headline CPI inflation will average 2.50 percent annually during the next ten years, from 2022 to 2031. The comparable estimate for PCEinflation over a 10-year period is 2.20 percent. These 10-year forecasts are marginally lower than those from the previous poll, which covered the period 2021 to 2030.
What is the October 2021 CPI rate?
From October 2020 to October 2021, the Consumer Price Index for All Urban Consumers grew by 6.2 percent, the biggest 12-month gain since November 1990. Prices for all commodities excluding food and energy increased by 4.6 percent in the last year, the biggest 12-month increase since August 1991. Over the last year, energy prices have risen by 30.0 percent, while the food index has risen by 5.3 percent.