CPI – Consumer Price Index

The ABS reports that CPI for the September Quarter 2009 rose by 1.0%

This compares to a rise for the previous quarter (June 2009) of 0.5% for 3 months.

This will almost guarantee another 0.25% rise in Interest rates in November, with maybe even a 0.5% rise.

The most significant price rises this quarter were for

• + 14.1% Water and Sewerage
• + 11.4% Electricity
• + 4.0% Motor fuel
• + 3.0% Deposit and loan facilities
• + 1.1% House Purchase

The most significant reductions were for

• – 5.6% Vegetables
• – 5.4% Fruit
• – 4.4% Pharmaceuticals
• – 2.3% Other financial services
• – 2.2% Audio, visual and computers

Australian Annual Inflation Rates

• 2003 2.4 %
• 2004 2.6 %
• 2005 2.8 %
• 2006 3.3 % as at Dec 2006
• 2007 3.0 % as at Dec 2007
• 2008 3.7 % as at Dec 2008
• 2009 2.1 % as at Dec 2009

CPI

September 2009

The Consumer Price Index rose 1.3% through the year to September quarter 2009, compared to an annual rise of 1.5% to June quarter 2009.

June 2009

The CPI rose by 1.5% for the 12 months to the June quarter 2009, compared to the annual rise of 2.5% to March quarter 2009.

Source: www.abs.gov.au

Source: www.rba.gov.au

Quarterly CPI Index figures for Australia