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September quarter CPI at 1.8%

Posted on : Friday, 17 November 2017

The Consumer Price Index (CPI) rose during the September quarter, but not by enough for the Reserve Bank of Australia to justify an increase in interest rates.

 

CPI for the September 2017 quarter rose by 0.6%, which followed a 0.2% increase during the June quarter and 0.5% in the March quarter. That put the year-on-year change at 1.8%.

 

The quarterly rise was driven primarily by higher utility, tobacco and travel prices.

 

Overview of CPI movements

 

  • The most significant price rises in this quarter were for electricity (+8.8%), tobacco (+4.1%), international holiday travel (+4.1%) and new dwellings (+0.8%). The most significant rises in electricity and gas were in Adelaide, Sydney, Canberra and Perth.

  

  • The most significant offsetting price falls in the September quarter were vegetables (-10.9%), automotive fuel (-2.3%) and telecommunications (-1.5%).

 

  • The health group (+2.7%), due to annual increase in private health insurance, is the most significant positive contributor to the All Groups quarterly movement across all eight capital cities.

  

  • In the September quarter, at the All Groups level, the CPI rose in all capital cities with Adelaide recording the largest movement (+1.1%). Over the last 12 months to September 2017, Melbourne (+2.2%), Canberra (+2.1%) and Hobart (+2.0%) recording the largest positive movements.

 

Capital city comparison

Period

Sydney

Melbourne

Brisbane

Adelaide

Perth

Hobart

Darwin

Canberra

ALL

Percentage change from previous financial year:

2013-14

2.5%

2.7%

2.8%

2.5%

3.0%

2.5%

3.7%

2.3%

2.6%

2014-15

2.0%

1.4%

1.8%

1.5%

1.8%

1.2%

1.4%

1.1%

1.7%

2015-16

1.5%

1.6%

1.6%

0.8%

0.9%

1.3%

0.1%

0.8%

1.4%

2016-17

2.0%

1.8%

1.8%

1.6%

0.6%

1.8%

0.2%

1.9%

1.8%

Percentage change from corresponding quarter of previous year

2014

 

 

 

 

 

 

 

 

 

March

2.8%

2.8%

3.1%

2.9%

3.1%

2.8%

3.6%

2.6%

2.9%

June

2.8%

3.2%

3.2%

3.1%

3.3%

2.8%

3.3%

2.2%

3.0%

Sept.

2.2%

2.0%

2.6%

2.1%

2.6%

1.9%

2.7%

2.0%

2.3%

Dec.

1.7%

1.4%

2.0%

1.7%

2.0%

1.1%

1.9%

1.2%

1.7%

2015

 

 

 

 

 

 

 

 

 

March

1.6%

1.0%

1.4%

1.1%

1.4%

0.9%

0.8%

0.6%

1.3%

June

2.2%

1.1%

1.5%

1.2%

1.2%

0.6%

0.2%

0.8%

1.5%

Sept.

1.9%

1.4%

1.5%

1.1%

1.1%

1.1%

0.4%

0.6%

1.5%

Dec.

2.0%

1.9%

1.7%

1.0%

1.5%

1.8%

0.5%

0.7%

1.7%

2016

 

March

1.3%

1.7%

1.7%

0.7%

0.7%

1.3%

-0.3%

1.0%

1.3%

June

0.9%

1.4%

1.5%

0.7%

0.5%

1.2%

0.0%

0.8%

1.0%

Sept.

1.7%

1.4%

1.5%

1.2%

0.5%

1.3%

0.0%

1.4%

1.3%

Dec.

1.8%

1.5%

1.6%

1.3%

0.4%

1.3%

-0.4%

1.8%

1.5%

2017

 

 

 

 

 

 

 

 

 

March

2.4%

2.5%

1.8%

2.0%

1.0%

2.3%

0.5%

2.3%

2.1%

June

2.2%

2.2%

1.8%

1.6%

0.7%

2.3%

0.5%

2.1%

1.9%

Sept.

1.9%

2.2%

1.5%

1.8%

0.8%

2.0%

0.6%

2.1%

1.8%

 

Catalogue 6401.0 - Australian Bureau of Statistics (25th September 2017)


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