Inflation Up 0.4% December 2010

Inflation Up 0.4% December 2010

Australian Bureau Of Statistics

ABS CPI December Quarter 2010 Up 0.4%

Victor P Taffa

The ABS Consumer Price Index rose 0.4% in the December Quarter 2010, compared with a rise of 0.7% in the September Quarter 2010.

The most significant price rises this Quarter were for fruit (+15.5%), vegetables (+11.4%), domestic holiday travel and accommodation (+3.8%) and automotive fuel (+2.1%). The most significant offsetting price falls were in pharmaceuticals (–6.2%), deposit and loan facilities (–1.3%), motor vehicles (–1.0%), audio, visual and computing equipment (–4.8%) and motor vehicle repair (–1.9%).

The ABS Consumer Price Index rose 2.7% through the year to December Quarter 2010, compared with a rise of 2.8% through the year to September Quarter 2010.

DECEMBER KEY FIGURES

Sep Qtr 2010 to Dec Qtr 2010

Dec Qtr 2009 to Dec Qtr 2010

Weighted average of eight capital cities

% change

% change


Food

2.2

2.5

Alcohol and tobacco

0.8

11.4

Clothing and footwear

-1.9

-4.8

Housing

0.6

5.0

Household contents and services

-0.6

-0.2

Health

-1.2

5.0

Transportation

0.2

1.7

Communication

0.1

-0.4

Recreation

0.2

-1.9

Education

0.0

5.7

Financial and insurance services

-0.4

2.2

All groups

0.4

2.7

All groups excluding Housing and Financial and insurance services

0.4

2.0


IMPACT OF THE FLOODS

Flooding in Queensland began in late December 2010. It is expected that the first significant economic impact of this and floods in other states will be reflected in the March Quarter 2011 release of this publication.