Current Inflation Rate 2024 Australia. At its august 2024 meeting, the reserve bank board decided to hold the cash rate. Risks from higher interest rates and inflation have receded somewhat, though underlying inflation remains elevated.

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. Australia’s annual rate of inflation has risen to 3.8 per cent, up from 3.6 per cent at the start of the year.