A inverter AC power supply comprises a chopper connected to receive an AC voltage from a low frequency AC voltage source to provide a smoothed DC voltage, and an inverter providing a high frequency AC voltage from the smoothed DC voltage for driving a load. The chopper includes an inductor and a series connected pair of first and second switching elements which alternately turn on and off for periodically interrupting an input AC voltage to store a resulting energy to the inductor which is subsequently released to charge a smoothing capacitor to give a smoothed DC voltage there across. The inverter shares the first and second switching elements with the chopper and comprises a L-C resonant circuit which is connected across one of the first and second switching elements together with the load to provide an oscillating voltage as the high frequency AC voltage to the load. A self-excitation control circuit is included in the inverter to acknowledge a change in the oscillating voltage. The self-excitation control circuit is connected to control terminals of the first and second switching elements in order to alternately turn on and off the first and second switching elements in response to the change in the oscillating voltage.