Utilities behind 0.6pc jump in CPI


Increase in water and electricity prices sees Australia's Consumer Price Index rise 0.6 percent in the September quarter

Utilities behind 0.6pc jump in CPI
Utilities behind 0.6pc jump in CPI
October 26, 2011

An increase in water and electricity prices has seen Australia’s Consumer Price Index rise 0.6 percent in the September quarter, according to new figures out today by the ABS.

The most significant price rises were for electricity (7.8 percent), water and sewerage (8.6 percent), property rates and charges (5.2 percent), international holiday travel and accommodation (5.1 percent) and rents (1.2 percent).

Offsetting these were falls in pharmaceutical products (–5 percent), audio, visual and computing equipment (–3.3 percent), vegetables (–2.5 percent), automotive fuel (–1.4 percent), fruit (–1.2 percent) and motor vehicles (–1 percent).

As reported by the ABS, the CPI rose in all capital cities over the September quarter, with Queensland posting a 0.3 percent increase.

The highest positive movement was recorded in Adelaide (1 percent) followed by Hobart (0.8 percent).

The CPI is now up 3.5 percent compared to the same time last year.

Whether or not today’s figures will have an impact on future rate rises will be determined when the Reserve Bank of Australia Board next meets on Tuesday, November 1.

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