Einar H. Dyvik
Research expert covering Nordics and global data for society, economy, and politics
Inflation in Australia - statistics & facts
Australia, like much of the world, is experiencing soaring inflation rates and a rising cost of living. A turbulent few years saw the world brought to a standstill from the COVID-19 pandemic and a new war in Europe following the Russian invasion of Ukraine, both of which caused extensive issues with the global supply chain, Australians also had to contend with rising interest rates set by the Reserve Bank of Australia (RBA) in early May of 2022 in order to combat the growing inflation rates. It was the hope of all Australians that 2023 would bring about economic stability.
