CONSUMER PRICE INDEX
Perth's Consumer Price Index (CPI) rose 1.4% in the June quarter 2007, the highest quarterly increase since the September quarter 2006. The rise follows a period of decelerating prices growth in Perth, from a high of 1.8% in June quarter 2006 to a low of 0.2% in March quarter 2007. Nationally, the CPI also recorded a sharp rise of 1.2% in the June quarter 2007.
The main driver of Perth's CPI growth in June quarter 2007 was automotive fuel (up 8.2%). Other significant contributors were rents (up 2.9%) and house purchase (up 1.1%), with Perth recording the highest increase in average rents ahead of Darwin (up 2.4%) and Brisbane (up 2.2%). Prices rose markedly for hospital and medical services (up 4.0%), mainly due to increases in private health fund premiums in April 2007. Fruit (up 8.7%) and vegetable (up 6.5%) prices also recorded strong increases, due to rising prices of bananas, berries, melons, stone fruits and fresh vegetables. Partially offsetting these rises were declining prices in domestic holiday travel and accommodation (down 1.6%) and overseas holiday travel and accommodation (down 1.6% ), largely due to prices receding from the peak season highs in the March quarter 2007.
CONSUMER PRICE INDEX (ALL GROUPS), Change from same quarter previous year
Perth's CPI rose 3.1% through the year to June quarter 2007, following a rise of 4.7% in the previous period. In fact, Perth's CPI growth has continued to slow since peaking at 4.8% through the year to September quarter 2006. Despite this deceleration, prices growth in the latest period was much higher than the national rise of 2.1% and ranked second highest among the states and territories after Darwin (up 3.7%). The main contributors to Perth's CPI growth were house purchase (up 6.0%) and rents (up 9.6%) through the year to June quarter 2007. Aside from Darwin, Perth led the nation in price rises for house purchase and rents.
WAGE PRICE INDEX
Western Australia's Wage Price Index (WPI) of total hourly rates of pay (excluding bonuses) rose 1.7% in the June quarter 2007, following lower growth of 1.1% in the December quarter 2006 and March quarter 2007. Public sector wages grew 1.9% in the latest quarter, marginally higher than the 1.6% rise in private sector wages. Nationally, the WPI rose 0.8% in June quarter 2007, lower than the 1.1% growth in the previous quarter.
WAGE PRICE INDEX, Change from same quarter previous year
Western Australia's WPI rose 5.1% through the year to June quarter 2007, the third successive period of accelerated annual growth. In contrast, the rate of national wages growth eased slightly to 4.0% through the year to June quarter 2007, following a rise of 4.1% in the previous period. In Western Australia, growth in wages was strong in the industries of government administration and defence (up 6.7%), personal and other services (up 6.4%), accommodation, cafes and restaurants (up 6.3%) and property and business services (up 6.2%). From an occupation perspective, wages growth was strong for managers and administrators (up 6.4%), labourers and related workers (up 5.8%), tradespersons and related workers (up 5.6%) and professionals (up 5.4%).