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6401.0 - Consumer Price Index, Australia, Jun 2012 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 25/07/2012   
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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



RECREATION AND CULTURE GROUP (-1.3%)

The recreation and culture group fell in the June quarter 2012. The main contributors to the fall were domestic holiday travel and accommodation (-4.0%), audio, visual and computing equipment (-3.8%), games, toys and hobbies (-1.3%) and international holiday travel and accommodation (-0.4%). This fall was partially offset by rises in newspapers, magazines and stationery (+0.8%) and sports participation (+0.4%).

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 (April for travel in June) and domestic airfares are collected one month in advance (April for travel in May).

Over the twelve months to the June quarter 2012, the recreation and culture group fell 1.6%.


FURNISHINGS, HOUSEHOLD EQUIPMENT AND SERVICES GROUP (+1.5%)

The furnishings, household equipment and services group rose in the June quarter 2012. The main contributors to the rise were furniture (+4.5%), personal care products (+2.2%) and household textiles (+2.9%). This rise was partially offset by falls in major household appliances (-1.0%) and other non-durable household products (-0.4%).

Over the twelve months to the June quarter 2012, the furnishings, household equipment and services group rose 0.7%.


TRANSPORT GROUP (+0.9%)

The transport group rose in the June quarter 2012. The main contributors to the rise were other services in respect of motor vehicles (+3.0%), motor vehicles (+1.1%) and automotive fuel (+0.7%).

The average monthly price of automotive fuel rose in January (+1.7%), February (+1.2%), March (+3.2%) and April (+2.5%) and fell in May (-3.2%) and June (-6.4%).

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 (+0.9%)

Over the twelve months to the June quarter 2012, the transport group rose 2.1%.


FOOD AND NON-ALCOHOLIC BEVERAGES GROUP (+0.6%)

The food and non-alcoholic beverages group rose in the June quarter 2012. The main contributors to the rise were vegetables (+5.2%), fruit (+3.8%), snacks and confectionery (+3.2%) and take away and fast foods (+1.0%). The rise in vegetable and fruit prices was mainly due to cooler weather conditions with rain and flooding affecting crops in the eastern states. This rise was partially offset by falls in cakes and biscuits (-2.8%), bread (-3.1%) and other food products n.e.c. (-2.6%).

Over the twelve months to the June quarter 2012, the food and non-alcoholic beverages group fell 3.2%.


HOUSING GROUP (+0.4%)

The housing group rose in the June quarter 2012. The main contributors to the rise were rents (+1.1%), gas and other household fuels (+2.3%), maintenance and repair of the dwelling (+0.8%) and new dwelling purchase by owner-occupiers (+0.1%). This rise was partially offset by a fall in electricity (-0.8%) due to the seasonal switch to off-peak pricing in Adelaide.

Over the twelve months to the June quarter 2012, the housing group rose 3.4%.


HEALTH GROUP (+1.5%)

The health group rose in the June quarter 2012. The main contributor to the rise was medical and hospital services (+2.8%), which rose mainly as a result of the increases in private health fund premiums effective from 1 April 2012. This rise was partially offset by a fall in pharmaceutical products (-1.7%) due to a greater proportion of consumers exceeding the Pharmaceutical Benefits Scheme (PBS) safety net compared to the March quarter 2012. Also, from 1 April 2012, the federal government's Expanded and Accelerated Price Disclosure (EAPD) program commenced. The EAPD program progressively reduces the price of some PBS medicines.

Over the twelve months to the June quarter 2012, the health group rose 3.6%.


ALCOHOL AND TOBACCO GROUP (+1.0%)

The alcohol and tobacco group rose in the June quarter 2012. The main contributors to the rise were tobacco (+1.7%), beer (+0.8%) and wine (+0.6%) partially due to the flow-on effects of the federal excise tax increase from 1 February 2012.

Over the twelve months to the June quarter 2012, the alcohol and tobacco group rose 3.8%.


CLOTHING AND FOOTWEAR GROUP (+1.5%)

The clothing and footwear group rose in the June quarter 2012. The main contributors to the rise were garments for women (+1.8%) and garments for men (+2.4%).

Over the twelve months to the June quarter 2012, the clothing and footwear group rose 0.6%.


INSURANCE AND FINANCIAL SERVICES GROUP (+0.5%)

The insurance and financial services group rose in the June quarter 2012. The main contributor to the rise was insurance (+1.3%), which rose mainly due to increases in premiums for house and household contents insurance.

Over the twelve months to the June quarter 2012, the insurance and financial services group rose 2.9%.


COMMUNICATION GROUP (-0.3%)

The communication group fell in the June quarter 2012. The main contributor to the fall was telecommunication equipment and services (-0.4%). This fall was partially offset by a rise in postal services (+1.9%).

Over the twelve months to the June quarter 2012, the communication group rose 0.9%.


EDUCATION GROUP (0.0%)

The education group recorded no movement in the June quarter 2012.

Over the twelve months to the June quarter 2012, the education group rose 6.1%.


INTERNATIONAL TRADE EXPOSURE - TRADABLES AND NON-TRADABLES

The tradables component (see Table 8) of the All Groups CPI rose 0.7% in the June 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 0.8% rise in the tradeable goods component were vegetables, furniture, fruit, tobacco and motor vehicles. The most significant offsetting falls in the tradable goods component were for audio, visual and computing equipment, cakes and biscuits and pharmaceutical products. The fall in the tradable services component of 0.4% was driven by international holiday travel and accommodation.

The non-tradables component of the All Groups CPI rose 0.4% in the June 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 0.2% mainly due to take away and fast foods, gas and other household fuels and beer. The most significant offsetting falls were for bread and electricity. The non-tradable services component rose 0.6% mainly due to increases in medical and hospital services, rents, other services in respect of motor vehicles and insurance. The most significant offsetting fall was for domestic holiday travel and accommodation.

Over the twelve months to the June quarter 2012, the tradables component fell 2.0% while the non-tradables component rose 3.3%. This compares to a fall of 1.5% and a rise of 3.6% respectively through the year to the March 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 June quarter 2012, the All groups CPI, seasonally adjusted rose 0.6%, compared to the unadjusted All groups CPI which recorded a rise of 0.5%.

The trimmed mean rose 0.5% in the June quarter 2012, compared to a revised rise of 0.4% in the March quarter 2012. Over the twelve months to the June quarter 2012, the trimmed mean rose 2.0% compared to a rise of 2.2% over the twelve months to the March quarter 2012.

The weighted median rose 0.7% in the June quarter 2012, compared to a rise of 0.4% in the March quarter 2012. Over the twelve months to the June quarter 2012, the weighted median rose 1.9% compared to a rise of 2.1% over the twelve months to the March 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.


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