CPI rose 0.4 per cent in the March quarter 2018

The Consumer Price Index (CPI) rose 0.4 per cent in the March quarter 2018, the latest Australian Bureau of Statistics (ABS) figures reveal. This follows a rise of 0.6 per cent in the December quarter 2017.

 

The most significant price rises this quarter are secondary education (+3.3%), gas and other household fuels (+6.0%), pharmaceutical products (+5.6%), vegetables (+3.7%) and medical and hospital services (+1.5%). These price rises were partially offset by falls in international holiday travel and accommodation (-2.4%), audio, visual and computing media and services (-6.1%) and furniture (-2.8%).

The CPI rose 0.4 per cent in the March quarter 2018. The most significant positive contributors to the CPI in the March quarter 2018 are: Housing Group (+0.7 per cent ), Transport Group (+1.1 per cent ), Education Group (+2.6 per cent ), Health Group (+2.2 per cent ), and Food and non-alcoholic beverages Group (+0.5 per cent ).

The CPI rose 1.9 per cent through the year to the March quarter 2018 having increased 1.9 per cent through the year to the December quarter 2017.

 

Chief Economist for the ABS, Bruce Hockman, said "While the annual CPI rose 1.9 per cent, most East Coast cities have continued to experience annual inflation above 2.0 per cent, due in part to the strength in prices related to Housing and Food. Softer economic conditions in Darwin and Perth have resulted in annual inflation remaining subdued at 1.1 and 0.9 per cent respectively."

For the March quarter 2018, the All Groups annual percentage change of the Weighted Average of the Eight Capital Cities is +1.9 per cent. Sydney rose 2.1 per cent, Melbourne rose 2.2 per cent, Brisbane rose 1.7 per cent, Adelaide rose 2.3 per cent, Perth rose 0.9 per cent, Hobart rose 2.0 per cent, Darwin rose 1.1 per cent, and Canberra rose 2.4 per cent.

Further information is available in Consumer Price Index, Australia (cat. No. 6401.0) available from the ABS website: http://abs.gov.au

 

24 April 2018.