Consumer Price Index

The Australian Bureau of Statistics (ABS) has today released its March 2018 Consumer Price Index (CPI) figure.

Where were the biggest movements?

The most significant price rises this quarter were:

  • Secondary education (+3.3%)
  • Gas and other household fuels (+6.0%)
  • Pharmaceutical products (+5.6%)
  • Vegetables (+3.7%)
  • Medical and hospital services (+1.5%)

The most significant offsetting price falls in the quarter were:

  • International holiday travel and accommodation (down 2.4%)
  • Audio, visual and computing equipment (down 6.1%)
  • Furniture (down 2.8%)

The All Groups CPI

  • The All Groups CPI rose 0.4% this quarter (compared with a rise of 0.6% in the December quarter 2017); and
  • Also rose 1.9% over the 12 months to the December quarter 2018. This compares with a rise of 1.0% over the 12 months to the December quarter 2017.

How Australia’s states and territories compare

SYDNEY (+0.3%)

The main contributors to the rise in Sydney this quarter are new dwelling purchase by owner-occupiers (+1.4%), waters, soft drinks and juices (+7.5%) and motor vehicles (+2.0%). The rises are partially offset by falls in international holiday travel and accommodation (-2.3%), electricity (-2.2%) and sports participation (-3.8%). The fall in sports participation is due to the introduction of the $100 Active Kids sports voucher for school-aged children in New South Wales.

MELBOURNE (+0.9%)

The main contributors to the rise in Melbourne this quarter are electricity (+13.1%), gas and other household fuels (+13.0%) and secondary education (+3.4%). Rises in Melbourne’s utility prices are due to annual increases in wholesale prices being passed onto consumers. The rises are partially offset by falls in audio, visual and computing media and services (-6.9%) and international holiday travel and accommodation (-2.1%).

BRISBANE (+0.1%)

The main contributors to the rise in Brisbane this quarter are maintenance and repair of motor vehicles (+3.8%), new dwelling purchase by owner-occupiers (+0.8%) and pharmaceutical products (+6.2%). The rises are partially offset by falls in electricity (-4.8%) and international holiday travel and accommodation (-3.6%). The fall in electricity prices is due to discounting by energy retailers.

ADELAIDE (+0.4%)

The main contributors to the rise in Adelaide this quarter are new dwelling purchase by owner-occupiers (+1.7%), pharmaceutical products (+5.3%) and maintenance and repair of motor vehicles (+3.1%). The rises are partially offset by falls in international holiday travel and accommodation (-2.8%), and audio, visual and computing media and services (-5.3%).

PERTH (+0.1%)

The main contributors to the rise in Perth this quarter are automotive fuel (+2.7%), medical and hospital services (+1.5%) and pharmaceutical products (+4.7%). The rises are partially offset by falls in new dwelling purchase by owner-occupiers (-1.8%) and rents (-1.6%). The fall in rents is due to a continuation of excess housing stock leading to high vacancy rates.

HOBART (+0.7%)

The main contributors to the rise in Hobart this quarter are domestic holiday travel and accommodation (+4.3%), automotive fuel (+3.6%) and rents (+1.6%). The rise in domestic holiday travel and accommodation is due to Tasmania’s continued popularity as a holiday destination for both international and domestic travellers. The rise is partially offset by falls in audio, visual and computing media and services (-6.9%) and international holiday travel and accommodation (-2.2%).

DARWIN (+0.0%)

Darwin recorded no movement this quarter. Rises in automotive fuel (+6.2%), secondary education (+6.9%) and pharmaceutical products (+5.8%) are offset by falls in rents (-1.7%) and sports participation (-19.0%). The fall in rents is due to a continuation of excess housing stock leading to high vacancy rates. The fall in sports participation is due to the biannual $100 sports voucher provided to school-aged children in the Northern Territory.

CANBERRA (+0.8%)

The main contributors to the rise in Canberra this quarter are automotive fuel (+6.1%), medical and hospital services (+2.5%) and secondary education (+4.6%). The rise is partially offset by falls in international holiday travel and accommodation (-2.4%) and audio, visual and computing equipment (-3.5%).

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