Australian Inflation Less Severe Than Global Trend, But Risks Still Remain: Study

Shoppers look at the meat produce at Costco Perth in Perth, Australia, on March 19, 2020. Paul Kane/Getty Images

Australia has so far avoided the worst of the global trend of rising inflation, a research paper has found.

The study (pdf) from the Centre for Independent Studies, a think tank specialising in public policy research, has found that while most countries were now witnessing the highest rates of consumer price inflation in decades, with the United States being one of the worst affected economies as its annual consumer price inflation soared to 7.5 percent in January 2022, Australia is experiencing far lower growth in inflationary pressures.