The ABS released the latest CPI data. The Consumer Price Index (CPI) rose 0.7 per cent in the June quarter 2015, following a rise of 0.2 per cent in the March quarter 2015.
This translates to an annual CPI of 1.5 per cent through the year to the June quarter 2015, following a rise of 1.3 per cent through the year to the March quarter 2015.
Underlying inflation is still in the 2-3% RBA target range, so there would be no impact of potential cash rate movements.
The most significant price rises this quarter were in automotive fuel (+12.2 per cent), medical and hospital services (+4.5 per cent) and new dwelling purchase by owner–occupiers (+1.5 per cent), These rises were partially offset by falls in domestic holiday travel and accommodation (–5.4 per cent) and pharmaceutical products (–1.8 per cent). The increase in fuel is registered in four of the five fuel types with the quarterly rise the largest since December 1990.
