Tag: cpi

The Consumer Price Index (CPI) rose 1.3 per cent through the year to September quarter 2016, according to the latest Australian Bureau of Statistics (ABS) figures. This is a rise from 1% last time, and higher than expected. However much of the rise is a reaction to recent bad wealth with the prices of fruit and vegetables higher. This is a temporary effect.

Nevertheless, the RBA trimmed mean remains at 1.7%, and probably means no rate cut in the near future.

The CPI rose 0.7 per cent in the September quarter 2016. This follows a rise of 0.4 per cent in the June quarter 2016. This quantum is towards the higher end of expectations.

Sydney had the highest movement at 1%. Housing, and furnishings helped to lift the number here, as well as rising fruit and vegetables prices.

Nationally, the most significant price rises this quarter are fruit (+19.5 per cent), vegetables (+5.9 per cent), electricity (+5.4 per cent) and tobacco (+2.3 per cent). These rises are partially offset by falls in communication (-2.3 per cent) and fuel (-2.9 per cent).

The rise in fruit and vegetable prices is due to adverse weather conditions, including floods, in major growing areas, impacting supply.

The Consumer Price Index (CPI) rose 0.4 per cent in the June quarter 2016, according to the latest Australian Bureau of Statistics (ABS) figures.

The RBA will probably take this as a signal to cut the cash rate again next week, despite the fact that evidence is mounting that rate cutting at these low interest rate levels will not help much, and create a problem down the track. In fact we should ask if a 2-3% target for inflation is meaningful anymore. Worth reading Mark Carney, Governor, Bank of England comments on this subject. Low inflation appears to carry significant risks, and low interest rates do not help.

This follows a fall of 0.2 per cent in the March quarter 2016.

The most significant price rises this quarter are in medical and hospital services (+4.2 per cent), automotive fuel (+5.9 per cent) and tobacco (+2.1 per cent). These rises are partially offset by falls in domestic holiday travel and accommodation (–3.7 per cent), motor vehicles (–1.3 per cent) and telecommunication equipment and services (–1.5 per cent).

The increase of 4.2 per cent for medical and hospital services was driven by the annual increase in Private Health Insurance (PHI) premiums, which rise on 1 April every year.

The increase of 5.9 per cent for automotive fuel follows three consecutive quarterly falls, with the rise driven by increases in unleaded, premium and ethanol fuels, as world oil prices increased from a 12-year low last quarter.

The CPI rose 1.0 per cent through the year to the June quarter 2016. This is the weakest annual rise since the June quarter 1999.

There are interesting state variations, with Brisbane recording 1.5 per cent, and Darwin 0 per cent this time.

 

The Consumer Price Index (CPI) fell 0.2 per cent in the March quarter 2016 according to latest figures from the Australian Bureau of Statistics (ABS).

This follows a rise of 0.4 per cent in the December quarter 2015.

The CPI rose 1.3 per cent through the year to the March quarter 2016, following a rise of 1.7 per cent through the year to the December quarter 2015.

The fall in the CPI this quarter was broad based, with six out of the eleven CPI groups recording a fall for the quarter.

The most significant fall occurred in transport (–2.5 per cent), due to automotive fuel (–10.0 per cent) falling for the third consecutive quarter.

Recreation and culture (–1.0 per cent) was the second most significant contributor, with falls in both international holiday travel and accommodation (–2.0 per cent) and domestic holiday travel and accommodation (–1.9 per cent).

Food and non–alcoholic beverages (–0.2 per cent) also fell this quarter, with fruit (–11.1 per cent) providing the most significant contribution.

These falls were partially offset by rises in secondary education (+4.6 per cent), medical and hospital services (+1.6 per cent) and pharmaceutical products (+4.8 per cent).

The latest Australian Bureau of Statistics (ABS) figures show the Consumer Price Index (CPI) rose 0.4 per cent in the December quarter 2015, following a rise of 0.5 per cent in the September quarter 2015.

The most significant price rises this quarter were in tobacco (+7.4 per cent), domestic holiday travel and accommodation (+5.9 per cent) and international holiday travel and accommodation (+2.4 per cent). These rises were partially offset by falls in automotive fuel (–5.7 per cent), telecommunication equipment and services (–2.4 per cent) and fruit (–2.6 per cent).

The increase of 0.1 per cent for the housing group is the weakest movement since March quarter 1998 as price rises for rents (+0.2 per cent) and new dwelling purchase by owner occupiers (+0.1 per cent) have been subdued through the quarter. The 0.1 per cent rise for new dwellings purchase by owner occupiers is the weakest movement since March quarter 2014.

The CPI rose 1.7 per cent through the year to the December quarter 2015, following a rise of 1.5 per cent through the year to the September quarter 2015.

The latest Australian Bureau of Statistics (ABS) figures show the Consumer Price Index (CPI) rose 0.5 per cent in the September quarter 2015, following a rise of 0.7 per cent in the June quarter 2015.

The most significant price rises this quarter were in international holiday travel and accommodation (+4.6 per cent), fruit (+8.2 per cent) and property rates and charges (+4.6 per cent), These rises were partially offset by falls in vegetables (–5.9 per cent), telecommunication equipment and services (–2.0 per cent) and automotive fuel (–1.7 per cent).

The CPI rose 1.5 per cent through the year to the September quarter 2015, following a rise of 1.5 per cent through the year to the June quarter 2015.

Underlying inflation, using the mean trimmed data, is still within the RBA 2-3% target band, so there is no reason to expect an interest rate cut on this measure in November.

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.