6467.0 - Selected Living Cost Indexes, Australia, Mar 2017 Quality Declaration 
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 03/05/2017   
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MAIN CONTRIBUTORS TO CHANGE


PENSIONER AND BENEFICIARY HOUSEHOLDS (+0.7%)

The PBLCI rose 0.7% in the March quarter 2017. The main contributor to the rise is in health (+6.4%), driven by pharmaceutical products. The rise in pharmaceutical products is mainly due to the cyclical reduction in the proportion of patients who qualify for subsidies under the Pharmaceuticals Benefit Scheme (PBS) as well as the co-payment indexation for PBS at the start of each calendar year. Transport (+2.0%) also contributed to the rise, driven by automotive fuel. The rise in automotive fuel is due to a rise in world oil prices.

Clothing and footwear (-2.1%) contributed the most significant partial offset this quarter, driven by garments for men and women. Falls are due to post Christmas specials.

The PBLCI recorded a larger rise than the CPI (+0.5%) this quarter. PBLCI households have a higher expenditure on health, which rose this quarter, when compared to the CPI population.

Over the last twelve months the PBLCI rose 2.4% while the CPI rose 2.1%.


EMPLOYEE HOUSEHOLDS (+0.5%)

The living cost index for employee households rose 0.5% in the March quarter 2017. The main contributor to the rise is in transport (+1.6%), driven by automotive fuel. The rise in automotive fuel is due to a rise in world oil prices. Insurance and financial services (+1.4%) also contributed to the rise, driven by mortgage interest charges, which is not included in the CPI.

Furnishing and household equipment and services (-0.9%) contributed the most significant partial offset this quarter, driven by furniture. Falls are due to post Christmas specials.

The LCI for employee households recorded the same rise as the CPI (+0.5%) this quarter.

Over the last twelve months the LCI for employee households rose 1.5% while the CPI rose 2.1%.


AGE PENSIONERS (+0.8%)

The living cost index for age pensioner households rose 0.8% in the March quarter 2017. The main contributor to the rise is in health (+5.8%), driven by pharmaceutical products. The rise in pharmaceutical products is mainly due to the cyclical reduction in the proportion of patients who qualify for subsidies under the Pharmaceuticals Benefit Scheme (PBS) as well as the co-payment indexation for PBS at the start of each calendar year. Housing (+1.0%) also contributed to the rise, driven by electricity. The rise in electricity is due to increases in wholesale costs.

Furnishing and household equipment and services (-1.0%) contributed the most significant partial offset this quarter, driven by furniture and household textiles. Falls are due to post Christmas specials.

The LCI for age pensioner households recorded a larger rise than the CPI (+0.5%) this quarter. Age pensioner households have a higher expenditure on health, which rose this quarter, when compared to the CPI population.

Over the last twelve months the LCI for age pensioner households rose 2.4% while the CPI rose 2.1%.


OTHER GOVERNMENT TRANSFER RECIPIENT HOUSEHOLDS (+0.6%)

The living cost index for other government transfer recipient households rose 0.6% in the March quarter 2017. The main contributor to the rise is in health (+7.4%), driven by pharmaceutical products. The rise in pharmaceutical products is mainly due to the cyclical reduction in the proportion of patients who qualify for subsidies under the Pharmaceuticals Benefit Scheme (PBS) as well as the co-payment indexation for PBS at the start of each calendar year. Transport (+1.9%) also contributed to the rise, driven by automotive fuel. The rise in automotive fuel is due to a rise in world oil prices.

Clothing and footwear (-2.2%) contributed the most significant partial offset this quarter, driven by garments for men and women. Falls are due to post Christmas specials.

The LCI for other government transfer recipient households recorded a larger rise than the CPI (+0.5%) this quarter. Other government recipient households have a higher expenditure on health, which rose this quarter, when compared to the CPI population.

Over the last twelve months the LCI for other government transfer recipient households rose 2.5% while the CPI rose 2.1%.


SELF–FUNDED RETIREE HOUSEHOLDS (+0.2%)

The living cost index for self-funded retiree households rose 0.2% in the March quarter 2017. The main contributor to the rise is in health (+2.2%), driven by pharmaceutical products. The rise in pharmaceutical products is mainly due to the cyclical reduction in the proportion of patients who qualify for subsidies under the Pharmaceuticals Benefit Scheme (PBS) as well as the co-payment indexation for PBS at the start of each calendar year. Transport (+1.6%) also contributed to the rise, driven by automotive fuel. The rise in automotive fuel is due to a rise in world oil prices.

Recreation and culture (-0.8%) contributed the most significant partial offset this quarter, driven by international holiday travel and accommodation. The fall in international holiday travel and accommodation is due to the winter off-peak seasons in Europe and America.

The LCI for self–funded retiree households recorded a smaller rise than the CPI (+0.5%) this quarter. Self funded retiree households have a higher expenditure on recreation and culture, which fell this quarter, when compared to the CPI population.

Over the last twelve months the LCI for self–funded retiree households rose 2.0% while the CPI rose 2.1%.
Percentage change, Commodity group - December Quarter 2016 to March Quarter 2017


Percentage change, Commodity group - December Quarter 2016 to March Quarter 2017

Pensioner and beneficiary LCI
Employee LCI
Age pensioner LCI
Other government transfer recipient LCI
Self-funded retiree LCI
Consumer Price Index (CPI)
Weighted average of eight capital cities
%

Food and non-alcoholic beverages
-0.4
-0.2
-0.5
-0.3
-0.3
-0.2
Alcohol and tobacco
1.1
1.1
1.2
1.0
1.2
1.1
Clothing and footwear
-2.1
-1.4
-1.9
-2.2
-1.6
-1.4
Housing(a)
0.8
0.6
1.0
0.5
0.7
0.8
Furnishings, household equipment and services
-1.0
-0.9
-1.0
-1.0
-1.2
-1.0
Health
6.4
1.8
5.8
7.4
2.2
2.0
Transport
2.0
1.6
2.1
1.9
1.6
1.5
Communication
-0.3
-0.3
-0.2
-0.5
-0.3
-0.3
Recreation and culture
-0.4
-0.6
-0.4
-0.3
-0.8
-0.7
Education
3.3
3.1
3.4
3.3
3.3
3.1
Insurance and financial services(b)
1.3
1.4
1.3
1.2
1.6
0.6
All groups
0.7
0.5
0.8
0.6
0.2
0.5

(a) New dwelling purchase by owner–occupiers are included in the CPI but excluded from the Selected Living Cost Indexes.
(b) The Selected Living Cost Indexes includes interest charges and general insurance. Interest charges are excluded from the CPI and general insurance is calculated on a different basis.