6401.0 - Consumer Price Index, Australia, Dec 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 23/01/2013   
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MAIN CONTRIBUTORS TO CHANGE


CPI GROUPS

The discussion of the CPI groups below is ordered in terms of their absolute significance to the change in All groups index points for the quarter (see tables 6 and 7).

Weighted average of eight capital cities, Percentage change from previous quarter
Graph: Weighted average of eight capital cities, Percentage change from previous quarter



TRANSPORT GROUP (+0.7%)

The transport group rose in the December quarter 2012. The main contributor to the rise was automotive fuel (+2.6%). The rise was partially offset by a fall in motor vehicles (-0.9%).

The average monthly price of automotive fuel rose in August (+5.7%), September (+2.3%) and October (+1.5%), fell in November (-3.5%) and rose in December (+0.4%).

The following graph illustrates the movement of the average daily prices for unleaded petrol for the weighted average of eight capital cities over the last fifteen months.

Diagram: Transport group (+0.7%)

Over the twelve months to the December quarter 2012, the transport group rose 2.0%. The main contributors to the rise were other services in respect of motor vehicles (+6.8%), maintenance and repair of motor vehicles (+3.7%) and automotive fuel (+1.6%). The rise was partially offset by a fall in motor vehicles (-1.2%).


INSURANCE AND FINANCIAL SERVICES GROUP (+1.5%)

The insurance and financial services group rose in the December quarter 2012. The main contributors to the rise were insurance (+2.9%) and other financial services (+1.1%).

Over the twelve months to the December quarter 2012, the insurance and financial services group rose 3.1%. The main contributor to the rise was insurance (+8.5%).


RECREATION AND CULTURE GROUP (+0.6%)

The recreation and culture group rose in the December quarter 2012. The main contributor to the rise was domestic holiday travel and accommodation (+6.2%). The rise was partially offset by falls in audio, visual and computing equipment (-4.3%) and international holiday travel and accommodation (-1.2%).

The rise in domestic holiday travel and accommodation was mainly due to increased accommodation prices during the Christmas and summer school holiday period.

In the CPI, airfares are collected in advance (at the time of payment), but are only used in the CPI in the quarter in which the trip is undertaken. International airfares are collected two months in advance (October for travel in December) and domestic airfares are collected one month in advance (October for travel in November).

Over the twelve months to the December quarter 2012, the recreation and culture group fell 1.7%. The main contributor to the fall was audio, visual and computing equipment (-14.2%).


HOUSING GROUP (+0.2%)

The housing group rose in the December quarter 2012. The main contributors to the rise were rents (+0.8%), maintenance and repair of the dwelling (+0.5%) and new dwelling purchase by owner-occupiers (+0.1%).

Over the twelve months to the December quarter 2012, the housing group rose 4.4% with rises in all categories.


HEALTH GROUP (-0.9%)

The health group fell in the December quarter 2012. The main contributor to the fall was pharmaceutical products (-3.5%), which fell mainly as a result of a greater proportion of consumers exceeding the Pharmaceutical Benefits Scheme safety net compared to the September quarter 2012.

Over the twelve months to the December quarter 2012, the health group rose 7.7%. The main contributors to the rise were medical and hospital services (+9.4%), pharmaceutical products (+5.4%) and dental services (+3.4%).


FURNISHINGS, HOUSEHOLD EQUIPMENT AND SERVICES GROUP (-0.6%)

The furnishings, household equipment and services group fell in the December quarter 2012. The most significant contributors to the fall were furniture (-1.6%), major household appliances (-2.8%) and glassware, tableware and household utensils (-2.8%). The fall was partially offset by a rise in child care (+1.3%).

Over the twelve months to the December quarter 2012, the furnishings, household equipment and services group rose 0.8%. The main contributors to the rise were child care (+8.6%) and other household services (+6.1%). The rise was partially offset by a fall in furniture (-1.6%).


COMMUNICATION GROUP (+1.3%)

The communication group rose in the December quarter 2012. The most significant contributor to the rise was telecommunication equipment and services (+1.3%).

Over the twelve months to the December quarter 2012, the communication group rose 1.6% with rises in telecommunication equipment and services (+1.6%) and postal services (+2.5%).


CLOTHING AND FOOTWEAR GROUP (+0.8%)

The clothing and footwear group rose in the December quarter 2012. The main contributor to the rise was accessories (+6.7%). The rise was partially offset by a fall in garments for women (-1.8%).

Over the twelve months to the December quarter 2012, the clothing and footwear group rose 0.6%. The main contributor to the rise was accessories (+6.3%). The rise was partially offset by a fall in garments for women (-2.7%).


FOOD AND NON-ALCOHOLIC BEVERAGES GROUP (-0.1%)

The food and non-alcoholic beverages group fell in the December quarter 2012. The main contributors to the fall were vegetables (-5.7%) and lamb and goat (-10.1%). The fall in vegetables was mainly due to favourable growing and weather conditions. The fall was partially offset by rises in poultry (+6.0%), fruit (+1.7%) and cakes and biscuits (+1.7%).

Over the twelve months to the December quarter 2012, the food and non-alcoholic beverages group rose 0.3%. The main contributors to the rise were vegetables (+9.4%) and take away and fast foods (+3.0%). The rise was partially offset by a fall in fruit (-19.0%).


ALCOHOL AND TOBACCO GROUP (+0.2%)

The alcohol and tobacco group rose in the December quarter 2012. The main contributor to the rise was tobacco (+0.9%). The rise was partially offset by a fall in beer (-0.5%).

Over the twelve months to the December quarter 2012, the alcohol and tobacco group rose 3.5%, with rises in tobacco (+5.8%), beer (+2.8%), spirits (+2.7%) and wine (+1.8%).


EDUCATION GROUP (0.0%)

The education group recorded no change in the December quarter 2012.

Over the twelve months to the December quarter 2012, the education group rose 6.1%, with rises in secondary education (+7.7%), tertiary education (+4.7%) and preschool and primary education (+5.7%).


INTERNATIONAL TRADE EXPOSURE - TRADABLES AND NON-TRADABLES

The tradables component (see Table 8) of the All Groups CPI fell 0.4% in the December quarter 2012. Prices for the goods and services in this component are largely determined on the world market. The tradables component represents approximately 40% of the weight of the CPI. The most significant contributors to the 0.4% fall in the tradeable goods component were vegetables, audio, visual and computing equipment, pharmaceutical products, lamb and goat, furniture and motor vehicles. The most significant offsetting rises in the tradable goods component were for automotive fuel, accessories, fruit, cakes and biscuits and tobacco. The fall in the tradable services component of 1.2% was driven by international holiday travel and accommodation.

The non-tradables component of the All Groups CPI rose 0.7% in the December quarter 2012. Prices for the goods and services in this component are largely determined by domestic price pressures. The non-tradables component represents approximately 60% of the weight of the CPI. The non-tradable goods component rose 0.3% mainly due to poultry, pets and related products, newspaper, magazines and stationery, takeaway and fast foods and new dwelling purchases by owner-occupiers. The most significant offsetting falls were for gas and other household fuels and beer. The non-tradable services component rose 1.0% mainly due to increases in domestic holiday travel and accommodation, rents, insurance, telecommunication equipment and services and other financial services. The most significant offsetting fall was for medical and hospital services.

Over the twelve months to the December quarter 2012, the tradables component fell 0.4% while the non-tradables component rose 3.9%. This compares to a fall of 1.2% and a rise of 4.0% respectively through the year to the September quarter 2012.

A detailed description of which expenditure classes are classified as tradable and non-tradable in the 16th series is shown in Appendix 1 of the September quarter 2011 issue of Consumer Price Index, Australia (cat. no 6401.0).


SEASONALLY ADJUSTED ANALYTICAL SERIES

In the December quarter 2012, the All groups CPI, seasonally adjusted rose 0.5%, compared to the unadjusted All groups CPI which recorded a rise of 0.2%.

The trimmed mean rose 0.6% in the December quarter 2012, compared to a rise of 0.7% in the September quarter 2012. Over the twelve months to the December quarter 2012, the trimmed mean rose 2.3% compared to a revised rise of 2.3% over the twelve months to the September quarter 2012.

The weighted median rose 0.5% in the December quarter 2012, compared to a rise of 0.8% in the September quarter 2012. Over the twelve months to the December quarter 2012, the weighted median rose 2.3% compared to a revised rise of 2.4% over the twelve months to the September quarter 2012.

A detailed explanation of the seasonal adjustment of the All Groups CPI is available in Information Paper: Seasonal Adjustment of Consumer Price Indexes, 2011 (cat. no. 6401.0.55.003) available on the ABS website. This paper includes a description of the seasonal adjustment method applied, the trimmed mean and weighted median.

Revisions to the seasonally adjusted estimates can be the result of the application of concurrent seasonal adjustment, described in paragraph 15 of the Explanatory Notes.