CPI Up 0.4 % In September Quarter 2018

CPI Up 0.4 % In September Quarter 2018

Australian Bureau Of Statistics

CPI Rose 0.4 % In The September Quarter 2018

Victor P Taffa

Consumer Price Index (CPI) rose 0.4 % in the September quarter 2018, according to the latest Australian Bureau of Statistics (ABS) figures.

This follows a rise of 0.4 % in the June quarter 2018.

Most significant rises this quarter are:

  • International holiday travel and accommodation (+4.3 %),
  • Tobacco (+1.8 %),
  • Property rates and charges (+2.3 %),
  • Automotive fuel (+1.4 %),
  • Fruit (+2.4 %).

Rise is partially offset by falls in:

  • Child care (-11.8 %),
  • Telecommunications equipment and services (-1.5 %).

Child care (-11.8 %) saw the largest fall this quarter following the introduction of the Child Care Subsidy on 2 July, which replaced the Child Care Rebate and Child Care Benefit.

CPI rose 1.9 % through the year to September quarter 2018, having increased 2.1 % through the year to the June quarter 2018.

“Annual growth in the CPI fell back below 2 % in the September quarter 2018. Modest rises in housing costs, including rents, utilities and property rates, and a fall in child care out-of-pocket expenses, saw a subdued rise in the CPI this quarter.” ABS Chief Economist Bruce Hockman said.

In addition, this quarter marks 70 years since the beginning of the CPI series in the September quarter 1948. 2 articles look back over the past 70 years of the CPI:

  • 70 Years of the Australian Consumer Price Index
  • 70 Years of Inflation in Australia

“CPI is an important macro-economic indicator that impacts the lives of all Australians. These 2 articles provide a history of the ABS’s measurement of the CPI and how inflation has evolved in Australia over the past 70 years.” Mr. Hockman said.