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What things are getting more expensive?

By Louise Chan · December 31 2019
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What things are getting more expensive

What things are getting more expensive?

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By Louise Chan · December 31 2019
Reading:
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What things are getting more expensive

INFOGRAPHIC: After not seeing any movement in the consumer price index (CPI) in the March quarter, the Australian Bureau of Statistics (ABS) measured a 0.6 per cent CPI increase in the June quarter 2019.

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The CPI quotes the representative price movements using the percentage price change of a basket of common commodities.

As the CPI increase suggests, several commodities have seen an increase in prices, with only fruits and vegetables and electricity seeing a 2.8 and 1.7 per cent reduction in prices.

The latest report likewise revealed which consumer products affected CPI the most.

According to the report, recreational expenses became more costly – with tobacco seeing a 2.4 per cent price increase and international travel with 2.7 per cent. The price of medical commodities also increased by 2.6 per cent.

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However, volatile fuel prices affected CPI the most with its 10.2 per cent increase.

“This rise had a significant impact on the CPI, contributing half of the 0.6 per cent rise this quarter,” ABS chief economist Bruce Hockman said.

The CPI percentage change in capital cities saw a 0.3 to 0.8 per cent increase. Canberra experienced the lowest change with 0.3, followed by Sydney at 0.37. Perth and Darwin, on the other hand, saw the largest rise with 0.7 and 0.8 per cent increase, respectively.

Note: The ABS measures the CPI based on a comprehensive but fixed set of commodities typically acquired by residents in the eight state capital cities. ABS regularly measures and updates the CPI figures and publishes it quarterly in its website.

What things are getting more expensive?
What things are getting more expensive
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About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

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About the author

Louise is a content producer for Momentum Media’s nestegg who likes keeping up-to-date with all the ways people can work towards financial stability in 2019. She also enjoys turning complex information into easy-to-digest, practical tips to help those who want to achieve financial independence.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

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