Current Inflation Rate 2024 Australia. The inflation rate year over year is 2.8% (compared to 3.8% for the previous quarter ). An important measure of underlying inflation — called trimmed mean inflation — only fell to 3.4 per cent in august, down from 3.8 per cent in july, according to the bureau of.

Australia’s inflation rate remained steady in october, with rising prices for food, alcohol, cigarettes and recreational activities keeping it at 2.1 per cent annually. “excluding the rebates, electricity prices would have increased 15.3 per cent in the 12 months to january 2024,” ms marquardt said.