Inflation Rate in Australia

Topics: Inflation, Central Intelligence Agency, 2010s Pages: 4 (935 words) Published: April 29, 2013
In this report we will explain and discuss the inflation rate that happened in Australia for the last three years. The issues uncovered will allow us to see the reasons behind the decreasing in inflation rate in Australia. Lastly we will discuss the type of inflation that will happen after the collection of carbon tax that started in the beginning of July 2012. In the table and chart below are some of statistics that we obtained from several sources to aid our explanation:

1. Euromonitor International | January 2013
Year| Inflation Rate|
2010| 2.9% |
2011| 3.3% |
2012| 1.8% |

The table above shows us the statistics of the inflation rate in Australia in the last 3 years. It indicates that the rate within 2010 to 2011 has increased by 0.4% but the rate from 2011 to 2012 has reduced by 1.5%.

2. Central Intelligences Agency (CIA) | March 26, 2013

Year| Inflation Rate|
2011| 3.4%|
2012| 2.1%|

The table above shows us that the rate of inflation from 2011 to 2012. Here, the data shows us that it has approximately the same reducing rate as the first table from Euromonitor International which is 1.3% reduction rate, which holds the 33rd position in country comparison to the world.

3. Vittorio Hernandez | July 26, 2012

In Hernandez’s article he mentioned that Australia is recorded as one of the countries that has a slow increase in their inflation rate (the country has been listed on ‘Wednesday as 13-year low inflation rate of 1.2 per cent’). He also stated that the reasons of this slow increase is due to a big fall in the price of some items. The data below is taken from the Australian Bureau of Statistics (ABS) that Hernandez use to support his point:

Chart A

Chart B

According to the charts above we can conclude that more items have an increase in their price than the items that have a decrease in their price. To measure the inflation rate we use CPI measurement. Cheese, meat and...
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