Invest
Consumer price index on the way up
The consumer price index has had better than expected results over the last three months, with strong fuel prices taking some of the credit, despite consumer wins still available in the marketplace, according to the Australian Bureau of Statistics.
Consumer price index on the way up
The consumer price index has had better than expected results over the last three months, with strong fuel prices taking some of the credit, despite consumer wins still available in the marketplace, according to the Australian Bureau of Statistics.
The Australian Bureau of Statistics (ABS) has reported that the consumer price index (CPI) grew by 0.6 per cent in the June quarter of 2019, following no movement in the March quarter.
The statistics bureau’s chief economist, Bruce Hockman, cited that almost half of the growth is attributable to stronger fuel prices over the quarter, which rose 10.2 per cent.
“This rise had a significant impact on the CPI, contributing half of the 0.6 per cent rise this quarter,” he explained.
He noted that it was a return to levels recorded in late 2018 for automotive fuel prices, which had fallen 8.7 per cent in the March quarter 2019.
Other significant growth areas for the CPI were reported as medical and hospital services, which grew by 2.6 per cent; international holiday travel and accommodation, which rose 2.7 per cent; and tobacco, which grew by 2.4 per cent.
Since June last year, the CPI has risen by 1.6 per cent.
According to the ABS, annual growth in the CPI continues to be subdued due to falls in a number of administered prices.
This was noted especially in utility prices, which have fallen 0.2 per cent, and in child care, which fell 7.9 per cent following the introduction of the Child Care Subsidy package in July 2018, Mr Hockman outlined.
The biggest wins for consumers include the prices paid for fruit and vegetables dropping 2.8 per cent, while domestic holiday travel and accommodation saw a 1.5 per cent cost decrease.
Electricity also gave consumers a reprieve, recording a fall of 1.7 per cent.
RELATED ARTICLES
About the author
About the author
Commodity
Gold's remarkable surge in 2025 sets the stage for a volatile 2026
Gold has experienced a stellar year in 2025, achieving over 50 all-time highs and delivering a return exceeding 60%, making it one of the top-performing assets. This impressive performance has been ...Read more
Commodity
Scenic Eclipse launches fifth Antarctica season with new submersible, private jet transfers and helicopter experiences
Scenic Discovery Yachts has commenced its fifth Antarctica season, introducing new ultra-luxury experiences including private jet transfers, advanced helicopter excursions and a new Scenic Neptune ...Read more
Commodity
Is crypto getting the shaft for a big gold re-polish?
While the spotlight shines on trendy cryptocurrencies, investors evidently haven’t lost interest in traditional and tangible commodities like precious metals. Read more
Commodity
Morrison’s gas-led recovery sees manufacturers ‘held to ransom’ by gas cartel
Australia’s manufacturing sector and its workers are being ‘held to ransom’ by the gas cartel, despite the Morrison government promising cheap gas as a key policy in the COVID-19 recovery planRead more
Commodity
‘Investors should take note’: Gas-led recovery to lead to stranded assets
Australia’s gas-led economic recovery could be relying on inaccurate financial assumptions, new research has revealed. Read more
Commodity
Credibility up in flames as government opens 21 new gas and oil exploration sites
Climate groups are saying the Morrison government lacks any credibility when it comes to climate change after it announced 21 new gas and oil exploration areas. Read more
Commodity
Morrison urged to drop gas-led recovery after new global warning
The International Energy Agency has found that countries like Australia need to transition their energy grid within 14 years to reach net zero, defying Prime Minister Scott Morrison’s gas-led economic ...Read more
Commodity
Taxpayers to bear brunt of Morrison’s $2bn pledge to oil refineries
Taxpayers are set to be on the hook for up to $2 billion over the next decade as the government commits to protecting two oil refineries. Read more
Commodity
Gold's remarkable surge in 2025 sets the stage for a volatile 2026
Gold has experienced a stellar year in 2025, achieving over 50 all-time highs and delivering a return exceeding 60%, making it one of the top-performing assets. This impressive performance has been ...Read more
Commodity
Scenic Eclipse launches fifth Antarctica season with new submersible, private jet transfers and helicopter experiences
Scenic Discovery Yachts has commenced its fifth Antarctica season, introducing new ultra-luxury experiences including private jet transfers, advanced helicopter excursions and a new Scenic Neptune ...Read more
Commodity
Is crypto getting the shaft for a big gold re-polish?
While the spotlight shines on trendy cryptocurrencies, investors evidently haven’t lost interest in traditional and tangible commodities like precious metals. Read more
Commodity
Morrison’s gas-led recovery sees manufacturers ‘held to ransom’ by gas cartel
Australia’s manufacturing sector and its workers are being ‘held to ransom’ by the gas cartel, despite the Morrison government promising cheap gas as a key policy in the COVID-19 recovery planRead more
Commodity
‘Investors should take note’: Gas-led recovery to lead to stranded assets
Australia’s gas-led economic recovery could be relying on inaccurate financial assumptions, new research has revealed. Read more
Commodity
Credibility up in flames as government opens 21 new gas and oil exploration sites
Climate groups are saying the Morrison government lacks any credibility when it comes to climate change after it announced 21 new gas and oil exploration areas. Read more
Commodity
Morrison urged to drop gas-led recovery after new global warning
The International Energy Agency has found that countries like Australia need to transition their energy grid within 14 years to reach net zero, defying Prime Minister Scott Morrison’s gas-led economic ...Read more
Commodity
Taxpayers to bear brunt of Morrison’s $2bn pledge to oil refineries
Taxpayers are set to be on the hook for up to $2 billion over the next decade as the government commits to protecting two oil refineries. Read more
