Consumer Price Index, Australia

Latest release

The Consumer Price Index (CPI) measures household inflation and includes statistics about price change for categories of household expenditure.

Reference period
December Quarter 2023
Released
31/01/2024
  • Next Release 24/04/2024
    Consumer Price Index, Australia, March Quarter 2024
  • Next Release 31/07/2024
    Consumer Price Index, Australia, June Quarter 2024
  • Next Release 30/10/2024
    Consumer Price Index, Australia, September Quarter 2024
  • View all releases

Key statistics

  • The Consumer Price Index (CPI) rose 0.6% this quarter.
  • Over the twelve months to the December 2023 quarter, the CPI rose 4.1%.
  • The most significant price rises this quarter were Tobacco (+7.0%), New dwelling purchase by owner-occupiers (+1.5%), Domestic holiday travel and accommodation (+3.9%) and Medical and hospital services (+1.2%).

What's new this quarter

Monthly CPI Indicator

Australian Dietary Guidelines Price Indexes

  • This issue incorporates an article titled "Australian Dietary Guidelines price indexes". The article details the analysis of price change over a twenty-year period for the food groups described by the 2013 Australian Dietary Guidelines (ADG), using historical data from the CPI.

75 years of the CPI

  • The ABS has collected prices for goods and services for over 100 years, with the quarterly CPI dating back to 1948. To mark the 75-year milestone of producing the CPI, a media statement and article titled ‘What changes in prices and their collection tell us about Australia' were released on 29 November. The article takes a look at how the basket of goods and services priced in the CPI has evolved over time and compares the prices paid today for a range of common items to what they were 50 years ago.

Update to the CPI weights next quarter

The CPI weights are updated each year to ensure the weights used in the CPI basket reflect contemporary household spending patterns. Previously the weights have been updated each December quarter. Starting from 2024, the CPI weights will be updated each March quarter. The updated CPI weights will be published at the same time as the January Monthly CPI indicator release on 28 February 2024.

Design of a complete monthly CPI – Public Consultation

At the end of 2023, the ABS undertook public consultation on the design of a complete monthly measure of the CPI. The consultation closed on 15 December 2023. Details of the consultation process are available on the ABS Consultation Hub. A summary of the submissions received and the final monthly CPI design will be made available on the “We asked, You said, We did” page of the Consultation Hub in early 2024.

Main features

Weighted average of eight capital cities
 Sep Qtr 2023 to Dec Qtr 2023Dec Qtr 2022 to Dec Qtr 2023
% change% change
All groups CPI0.64.1
Food and non-alcoholic beverages0.54.5
Alcohol and tobacco2.86.6
Clothing and footwear0.5-1.1
Housing1.06.1
Furnishings, household equipment and services-1.0-0.2
Health0.6 5.1
Transport-0.23.7
Communication0.42.2
Recreation and culture0.30.5
Education-0.14.7
Insurance and financial services1.78.1
CPI analytical series
 All groups CPI, seasonally adjusted0.74.0
 Trimmed mean0.84.2
 Weighted median0.94.4

Overview

Annual CPI inflation eases again in the December quarter

Annual CPI inflation was 4.1 per cent in the December 2023 quarter, lower than the 5.4 per cent annual rise in the September 2023 quarter. This marks the fourth consecutive quarter of lower annual inflation and down from the peak of 7.8 per cent in the December 2022 quarter. Trimmed mean annual inflation of 4.2 per cent was also lower in the December quarter, both  compared to the September 2023 quarter inflation of 5.1 per cent and the peak in December 2022 of 6.8 per cent.

Goods and Services annual inflation both lower

This is the fifth consecutive quarter of lower annual inflation for goods, down from the peak of 9.6 per cent in September 2022 quarter. Annual inflation for most goods eased in the December 2023 quarter, with some goods seeing deflation, where prices are lower compared to 12 months ago, such as clothing, footwear, furniture and household appliances. Annual services inflation eased for the second consecutive quarter, down from the peak of 6.3 per cent in the June 2023 quarter.

Non-tradables inflation remains high

Non-tradables include goods and services that are mostly influenced by domestic factors. Annual inflation for Non-tradables remains elevated at 5.4 per cent due to price rises for new dwellings, rents, insurance and electricity.

Annual inflation for Tradables is significantly lower at 1.5 per cent compared to when it peaked in 2022 at 8.7 per cent. Deflation, where prices are lower compared to 12 months ago, has been seen in imported goods including clothing, footwear, furniture and household appliances.

Rental price growth remains above 7 per cent over the past 12 months

Rental prices rose 7.3 per cent annually, slightly lower than the 7.6 per cent annual rise in the September 2023 quarter. Continued growth in rental prices reflects low vacancy rates and a tight rental market. 

Rental prices for the quarter rose 0.9 per cent following a 2.2 per cent increase in the September quarter. The rate of quarterly and annual growth in rents this quarter was moderated by increases in Commonwealth Rent Assistance. 

Changes to Commonwealth Rent Assistance

From 20 September 2023, the maximum rate available for Commonwealth Rent Assistance (CRA) increased by 15 per cent in addition to the biannual CPI indexation that applies in March and September each year. 

The September quarter results showed a partial impact of the CRA changes. Rents rose 2.2 per cent in the September 2023 quarter. Excluding the changes to CRA, rents would have increased by 2.5 per cent. 

The remaining impact is reflected in the December 2023 quarter. Rents rose 0.9 per cent in the December 2023 quarter with the increase moderated by changes to Commonwealth Rent Assistance. Excluding the changes to CRA, rents would have increased by 2.2 per cent in the December quarter 2023.

Electricity price rises ease in the December quarter

Electricity prices rose 1.4 per cent in the December 2023 quarter, compared to a rise of 4.2 per cent in the September quarter. Over the past 12 months, electricity prices have increased 6.9 per cent, down from the increase of 14.5 per cent in the 12 months to September.

The introduction of the Energy Bill Relief Fund rebates from July 2023 has moderated the increase in electricity bills for households. Electricity prices have risen 5.7 per cent since the June 2023 quarter. Excluding the Energy Bill Relief rebates, electricity prices would have increased 17.6 per cent over this period. 

The following graph shows the introduction of various electricity rebates and the impact these changes had on the electricity series in the CPI.

Strongest annual growth in insurance premiums since 2001

Insurance prices rose 16.2 per cent in the 12 months to the December 2023 quarter, which is the strongest annual rise since March 2001. Higher reinsurance, natural disaster and claims costs contributed to higher premiums for house, home contents and motor vehicle insurance.

New dwellings annual price growth steady at 5 per cent

Annual growth in new dwelling prices remained steady at 5.1 per cent in the December 2023 quarter, however, is significantly down from the peak of 20.7 per cent in September 2022. The moderation in annual price growth over the past 12 months reflects subdued new demand and building materials cost increases easing.

Annual food inflation eases for the fourth quarter in a row

Annual food inflation eased to 4.5 per cent in the December quarter, down from 4.8 per cent in September quarter and the peak of 9.2 per cent in December 2022. Price rises have been lower across all food categories, while fruit and vegetable prices fell 0.2 per cent compared to 12 months ago. Meat and seafood prices showed no change compared to 12 months ago, with price falls in lamb and goat of 15.0 per cent and beef and veal of 4.5 per cent offsetting price rises in chicken, pork and seafood.

Prices for unleaded petrol were volatile over the quarter

Automotive fuel prices fell 0.2 per cent in the December quarter. Average unleaded petrol prices were volatile over the quarter, from a high of $2.13 per litre in early October, to a low of $1.78 per litre in mid-December.

Main contributors to change

CPI groups

Food and non-alcoholic beverages group (+0.5%)

  • The main contributors to the rise were Meals out and take away foods (+0.9%), Food products n.e.c. (+1.9%) and Bread and cereal products (+1.9%).
  • Offsetting the rise were falls for Meat and seafood (-1.2%) and Fruit and vegetable (-1.2%).

Over the past twelve months, the group rose 4.5%. Meals out and take away foods (+5.6%) was the main contributor. 

Alcohol and tobacco group (+2.8%)

  • The main contributor to the rise was Tobacco (+7.0%), which increased due to the flow on effects of the introduction of a 5% annual excise indexation and the usual bi-annual AWOTE indexation applied on 1 September 2023.
  • Alcoholic beverages (+0.5%) recorded a small quarterly rise.

Over the past twelve months, the group rose 6.6%. The main contributors were Tobacco (+10.6%), Beer (+7.0%) and Spirits (+5.6%).
 

Clothing and footwear group (+0.5%)

  • The main contributor to the rise was Garments (+1.9%), which increased with new summer stock coming into season. The rise was moderated by price falls in November due to promotional activity, including Black Friday and Cyber Monday sales. 
  • Offsetting the rise were falls for Accessories and clothing services (-1.4%) and Footwear (-0.6%).

Over the past twelve months, the group fell 1.1%. Garments for women (-2.7%), Footwear for women (-5.4%) and Accessories (-0.5%) were the main contributors.

Housing group (+1.0%)

New dwelling purchase by owner-occupiers

  • New dwelling purchase by owner-occupiers rose 1.5% as builders continue to pass on higher labour and building material costs.

Rents

  • Rents rose 0.9% this quarter, the smallest quarterly rise since the June 2022 quarter.
  • The increase in rents this quarter was moderated by changes to Commonwealth Rent Assistance. From 20 September 2023, the maximum rate available for rent assistance increased by 15% in addition to the biannual CPI indexation that applies in March and September each year. The September quarter results showed a partial impact with the remaining impact reflected in the December 2023 quarter. 
  • Excluding the changes to rent assistance, rents would have increased by 2.2% in the December 2023 quarter, reflecting strong demand and low vacancy rates. 

Electricity

  • Electricity prices rose 1.4% this quarter. The rise was driven by the unwinding of the first instalment of the Energy Bill Relief Fund rebates for all households in Perth and concession households in Hobart. The rise in Perth was partially offset by the introduction of the second instalment of the Energy Bill Relief Fund rebates from December 2023. 
  • In addition to concession households, households newly eligible for the Energy Bill Relief Fund received rebates in Sydney, Melbourne, Adelaide, Hobart, Darwin and Canberra from October 2023, reducing electricity bills for these households and partially offsetting the rise in the December 2023 quarter.
  • Excluding the impact from the unwinding of the rebates, Electricity prices would have fallen 0.9% this quarter due to electricity retailers in some capital cities increasing discounts for market offer plans. 
Electricity, quarterly movements (%)
 Excluding energy bill relief (%)including energy bill relief (%)
Sydney-2.2-3.2
Melbourne -0.4-2.0
Brisbane 0.70.9
Adelaide-0.2-2.4
Perth 0.056.7
Hobart0.07.3
Darwin0.0-6.5
Canberra-0.11.3
Weighted average of eight capital cities-0.91.4

Over the past twelve months the group rose 6.1%. This is the smallest annual rise since the December 2021 quarter. The main contributor to the annual rise was Utilities (+8.4%), followed by New dwelling purchase by owner occupiers (+5.1%).

Furnishings, household equipment and services group (-1.0%)

  • The main contributors to the fall were Furniture (-4.3%) and Household Textiles (-5.3%).
  • Child care (+3.2%) and Hairdressing and personal grooming services (+1.7%) partially offset the fall.

Over the past twelve months, the group fell 0.2%. Household Appliances, Utensils and Tools (-3.2%) and Furniture and furnishings (-1.2%) were the main contributors.

Health group (+0.6%)

  • Medical and hospital services rose 1.2% due to a rise in private health insurance premiums.
  • Pharmaceutical products fell 1.7% due to an increase in the proportion of consumers who qualify for subsidies under the Pharmaceutical Benefits Scheme.

Over the past twelve months the group rose 5.1%. Medical and hospital services (+6.5%) was the main contributor.

Transport group (-0.2%)

  • The main contributors to the fall were Spare parts and accessories for motor vehicles (-3.4%), Motor vehicles (-0.5%) and Automotive fuel (-0.2%).
  • Maintenance and repair of motor vehicles (+1.4%) and Urban transport fares (+1.6%) partially offset the fall.

Over the past twelve months, the group rose 3.7%. Automotive fuel (+5.4%), Maintenance and repair of motor vehicle (+3.9%) and Other services in respect to motor vehicles (+4.5%) were the main contributors.

Communication group (+0.4%)

  • Postal services rose 2.2% due to increased demand for deliveries in the lead up to Christmas.
  • Telecommunication equipment and services rose 0.1%.

Over the past twelve months, the group rose 2.2%. Telecommunication equipment and services (+1.5%) and Postal services (+16.2%) were the main contributors.

Recreation and culture group (+0.3%)

  • Domestic holiday travel and accommodation (+3.9%) was the main contributor to the rise with higher demand due to major sporting events and the start of the December school holiday period.
  • A fall in International holiday travel and accommodation (-1.5%) partially offset the rise.

Over the past twelve months the group rose 0.5%. Other recreation, sport and culture (+3.8%) was the main contributor, partially offset by Holiday travel and accommodation (-2.6%).

Education group (-0.1%)

Preschool and primary education fell 0.4% as the NSW and Vic Governments 'Start Strong' & 'Free Kinder' programs continued to provide fee relief for families with children in preschool in 2023, which resulted in reduced out-of-pocket expenses.

Over the past twelve months, the group rose 4.7%. Tertiary education (+10.2%) was the main contributor.

Insurance and financial services group (+1.7%)

  • Insurance (+3.8%) was the main contributor with rises in premiums across motor vehicle, house and house contents insurance reflecting higher reinsurance, natural disaster and claims costs. 
  • Other financial services (+0.9%) rose due to higher legal and conveyancing fees. 

Over the past twelve months the group rose 8.1%. Insurance (+16.2%) was the main contributor, recording the largest annual rise since the March 2001 quarter.

International trade exposure - tradables and non-tradables

The Tradables and Non–tradables series measure the contribution of goods and services that are highly exposed to international trade influences (tradables), and those that are mostly influenced by domestic factors (non–tradables), to overall household inflation. Examples of tradables include automotive fuel, most food items, and clothing and footwear. Examples of non–tradables include housing and education.

  • Non-tradables rose 1.3% due to Tobacco (+7.0%), New dwelling purchase by owner occupiers (+1.5%) and Domestic holiday and travel accommodation (+3.9%). 
  • Tradables fell 0.7% due to Furniture (-4.3%), International holiday travel and accommodation (-1.5%) and Lamb and goat (-12.1%).  

In seasonally adjusted terms, the Non–tradables component of the All groups CPI rose 1.2% and the Tradables component fell 0.4%.

Discretionary and non-discretionary inflation

Non-discretionary inflation includes goods and services that households are less likely to reduce their consumption of, such as food, automotive fuel, housing and health costs. Discretionary goods and services may be considered 'optional' purchases.

  • Discretionary goods and services rose 0.7% through the quarter, and 3.0% through the year. The rise this quarter was driven by Tobacco (+7.0%), Meals out and takeaway fast foods (+0.9%), and Holiday and travel accommodation (+1.0%).
  • Non-discretionary goods and services rose 0.6% through the quarter, and 4.8% through the year. The rise this quarter was driven by New dwelling purchase by owner occupier (+1.5%), Insurance (+3.8%) Rents (+0.9%) and Child care (+3.2%). 

Underlying inflation series

The Trimmed mean and the Weighted median provide measures of underlying inflation. These measures reduce the impact of irregular or temporary price changes in the CPI. For more information see Underlying Inflation Measures: Explaining the Trimmed Mean and Weighted Median.

In the December 2023 quarter:

  • The trimmed mean rose 0.8%, following a rise of 1.2% in the September 2023 quarter.
  • Over the past twelve months, the trimmed mean rose 4.2%, following a rise of 5.1% over the twelve months to the September 2023 quarter.
  • The weighted median rose 0.9%, following a rise of 1.3% in the September 2023 quarter.
  • Over the past twelve months, the weighted median rose 4.4%, following a rise of 5.2% over the twelve months to the September 2023 quarter.

Seasonally adjusted analytical series

Seasonal adjustment is the process by which regular, calendar related effects are removed from the original series.

  • All groups CPI seasonally adjusted rose 0.7% for the quarter.
Sep Qtr 2023 to Dec Qtr 2023 percentage change
 Original (%)Seasonally Adjusted (%)
All groups CPI0.60.7
Food and non-alcoholic beverages0.50.8
Alcohol and tobacco2.82.3
Clothing and footwear0.5-0.2
Housing1.01.2
Furnishings, household equipment and services-1.0-0.5
Health0.62.0
Transport-0.2-0.1
Communication0.40.6
Recreation and culture0.3-0.5
Education-0.10.5
Insurance and financial services1.71.7
International trade exposure series  
 Tradables-0.7-0.4
 Non-tradables1.31.2

A detailed explanation of the seasonal adjustment of the All Groups CPI and calculation of the Trimmed mean and Weighted median measures is available in Information Paper: Seasonal Adjustment of Consumer Price Indexes, 2011 (cat. no. 6401.0.55.003). Revisions to the seasonally adjusted estimates can be the result of the application of concurrent seasonal adjustment, described on the methodology page.

Capital cities comparison

All groups CPI

All groups CPI, index numbers and percentage changes
 Index number(a)Percentage change (%)
 Dec Qtr 2023Sep Qtr 2023 to Dec Qtr 2023Dec Qtr 2022 to Dec Qtr 2023
Sydney136.40.44.2
Melbourne136.10.63.8
Brisbane137.70.54.2
Adelaide137.10.74.8
Perth134.01.53.6
Hobart136.80.73.3
Darwin131.50.53.9
Canberra134.30.43.7
Weighted average of eight capital cities136.10.64.1

a. Index reference period: 2011-12 = 100.0.

Capital city highlights:

At the All groups level, the CPI rose in all capital cities, ranging from 0.4% in Sydney and Canberra to 1.5% in Perth.

 

Sydney (+0.4%)

  • Tobacco (+6.8%).
  • Rents (+1.3%).
  • New dwelling purchase by owner occupiers (+1.1%).
  • Electricity (-3.2%).

Sydney recorded an annual rise of 4.2%.

Melbourne (+0.6%)

  • Tobacco (+6.8%).
  • Domestic holiday travel and accommodation (+3.7%).
  • New dwelling purchase by owner occupiers (+1.4%).
  • Non-alcoholic beverages (+3.3%) due to the introduction of the Victorian Container Deposit Scheme.
  • Electricity (-2.0%).

Melbourne recorded an annual rise of 3.8%.

Brisbane (+0.5%)

  • Tobacco (+7.4%).
  • Domestic holiday travel and accommodation (+3.0%).
  • Insurance (+4.9%).
  • Major household appliances (-10.3%). The Queensland government's Climate Smart Energy Savers initiative offered up $1000 cash back on a range of appliances with energy-efficiency ratings of 4 stars or better.

Brisbane recorded an annual rise of 4.2%. 

Adelaide (+0.7%)

  • Tobacco (+7.0%).
  • Domestic holiday travel and accommodation (+8.3%).
  • New dwelling purchase by owner occupiers (+1.4%).
  • Electricity (-2.4%).

Adelaide recorded an annual rise of 4.8%, the largest rise of all capital cities.

Perth (+1.5%)

  • Electricity (+56.7%). The rise was due to the unwinding of the first instalment of the Energy Bill Relief Fund rebates introduced from July 2023, partially offset by the introduction of the second instalment for all households from December 2023.
  • New dwelling purchase by owner occupiers (+5.6%).
  • Tobacco (+7.0%).

Perth recorded an annual rise of 3.6%.   

Hobart (+0.7%)

  • Tobacco (+7.9%).
  • Electricity (+7.3%) due to the unwinding of the Energy Bill Relief Fund rebate for concession households.
  • New dwelling purchase by owner occupiers (+2.1%).
  • Rents (-2.5%). 

Hobart recorded an annual rise of 3.3%.

Darwin (+0.5%)

  • Tobacco (+7.3%).
  • Sports participation (+13.5%). The rise was due to the unwinding of the Sport Voucher Scheme for school age children.
  • Electricity (-6.5%).

Darwin recorded an annual rise of 3.9%.

Canberra (+0.4%)

  • New dwelling purchase by owner occupiers (+2.6%).
  • Tobacco (+7.2%).
  • Automotive fuel (+1.5%).

Canberra recorded an annual rise of 3.7%.

Quarterly percentage change by capital city
GroupSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
All groups0.40.60.50.71.50.70.50.40.6
Food & non-alcoholic beverages0.31.00.80.40.10.5-0.10.20.5
Alcohol & tobacco2.43.32.73.02.54.23.41.92.8
Clothing & footwear-0.32.00.1-0.81.00.20.50.10.5
Housing0.50.50.20.16.31.0-0.41.21.0
Furnishings, household equipment and services-1.3-0.8-1.0-1.2-0.7-0.4-0.5-0.2-1.0
Health0.70.40.81.5-0.10.70.1-0.10.6
Transport0.2-0.60.00.2-0.3-1.00.40.0-0.2
Communication0.40.30.40.40.40.40.40.40.4
Recreation & culture0.20.30.10.90.90.10.6-0.20.3
Education-0.3-0.10.10.10.00.00.10.1-0.1
Insurance & financial services1.61.42.24.41.11.51.60.11.7

Selected tables - capital cities

All groups CPI, index numbers(a)

All groups CPI, Index numbers(a)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
2023 December 136.4136.1137.7137.1134.0136.8131.5134.3136.1
2023 September135.8135.3137.0136.2132.0135.8130.9133.7135.3
2023 June134.0133.5136.0133.9131.5134.6129.7132.7133.7
2023 March132.7132.7134.6132.4130.4134.0128.2131.3132.6
2022 December130.9131.1132.1130.8129.3132.4126.6129.5130.8
2022 September128.6129.0130.2128.6124.8130.5125.5128.0128.4
2022 June125.7126.4127.9125.3125.4127.6123.2125.6126.1
2022 March123.7124.2125.3122.7123.3125.4120.7123.6123.9
2021 December121.6121.4122.6120.4119.4122.9118.2120.9121.3
2021 September120.2120.1120.7118.6117.7120.2117.3119.7119.7
2021 June119.4119.1119.2117.8116.8119.8115.6118.2118.8
2021 March118.5118.8118.2117.2114.6118.5114.4117.3117.9
2020 December118.0118.4117.5116.5113.0117.6111.5116.3117.2
2020 September116.8116.7116.2115.7114.1116.7110.8115.4116.2
2020 June114.7115.7113.6114.6112.1115.6109.0112.8114.4
2020 March117.4117.8116.2115.8113.5117.2111.8115.5116.6
2019 December117.1116.9116.3115.4113.1116.7111.5115.0116.2
2019 September116.5115.9115.5114.5112.6114.7111.3114.3115.4
2019 June115.9115.3114.8113.7112.0114.1111.0113.5114.8
2022-23131.6131.6133.2131.4129.0132.9127.5130.4131.4
2021-22122.8123.0124.1121.8121.5124.0119.9122.5122.8
2020-21118.2118.3117.8116.8114.6118.2113.1116.8117.5

a. Unless otherwise specified, reference period of each index: 2011-12 = 100.0.

All groups CPI, percentage changes

Percentage change (from previous financial year)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
2022-237.16.97.37.96.27.16.46.57.0
2021-223.94.05.44.26.05.06.04.84.4
2020-211.51.42.11.51.61.82.02.11.6
Percentage change (from corresponding quarter of previous year)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
2023 December4.23.84.24.83.63.33.93.74.1
2023 September5.64.95.25.95.84.14.34.55.4
2023 June6.65.66.36.94.95.55.35.76.0
2023 March7.36.87.47.95.86.96.26.27.0
2022 December7.68.07.78.68.37.77.17.17.8
2022 September7.07.47.98.46.08.67.06.97.3
2022 June5.36.17.36.47.46.56.66.36.1
2022 March4.44.56.04.77.65.85.55.45.1
2021 December3.12.54.33.35.74.56.04.03.5
2021 September2.92.93.92.53.23.05.93.73.0
2021 June4.12.94.92.84.23.66.14.83.8
2021 March0.90.81.71.21.01.12.31.61.1
2020 December0.81.31.01.0-0.10.80.01.10.9
2020 September0.30.70.61.01.31.7-0.41.00.7
2020 June-1.00.3-1.00.80.11.3-1.8-0.6-0.3
2020 March2.02.71.82.42.13.41.52.02.2
2019 December1.62.02.02.11.62.70.51.71.8
Percentage change (from previous quarter)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
2023 December0.40.60.50.71.50.70.50.40.6
2023 September1.31.30.71.70.40.90.90.81.2
2023 June1.00.61.01.10.80.41.21.10.8
2023 March1.41.21.91.20.91.21.31.41.4
2022 December1.81.61.51.73.61.50.91.21.9
2022 September2.32.11.82.6-0.52.31.91.91.8
2022 June1.61.82.12.11.71.82.11.61.8
2022 March1.72.32.21.93.32.02.12.22.1
2021 December1.21.11.61.51.42.20.81.01.3
2021 September0.70.81.30.70.80.31.51.30.8
2021 June0.80.30.80.51.91.11.00.80.8
2021 March0.40.30.60.61.40.82.60.90.6
2020 December1.01.51.10.7-1.00.80.60.80.9
2020 September1.80.92.31.01.81.01.72.31.6
2020 June-2.3-1.8-2.2-1.0-1.2-1.4-2.5-2.3-1.9
2020 March0.30.8-0.10.30.40.40.30.40.3
2019 December0.50.90.70.80.41.70.20.60.7

Longer term series: All groups CPI, weighted average of eight capital cities, index numbers

All groups CPI, weighted average of eight capital cities, index numbers
 31 March no.30 June no.30 September no.31 December no.
2023132.6133.7135.3136.1
2022123.9126.1128.4130.8
2021117.9118.8119.7121.3
2020116.6114.4116.2117.2
2019114.1114.8115.4116.2
2018112.6113.0113.5114.1
2017110.5110.7111.4112.1
2016108.2108.6109.4110.0
2015106.8107.5108.0108.4
2014105.4105.9106.4106.6
2013102.4102.8104.0104.8
201299.9100.4101.8102.0
201198.399.299.899.8
201095.295.896.596.9
200992.592.993.894.3
200890.391.692.792.4
200786.687.788.389.1
200684.585.986.786.6
200582.182.683.483.8
200480.280.680.981.5
200378.678.679.179.5
200276.176.677.177.6
200173.974.574.775.4
200069.770.272.973.1
199967.868.168.769.1
199867.067.467.567.8
199767.166.966.666.8
199666.266.766.967.0
199563.864.765.566.0
199461.561.962.362.8
199360.660.861.161.2
199259.959.759.860.1
199158.959.059.359.9
199056.257.157.559.0
198951.753.054.255.2
198848.449.350.251.2
198745.346.046.847.6
198641.442.143.244.4

a. nil or rounded to zero (including null cells)

Data downloads

Time Series Spreadsheets

Data files

Article archive

Measuring Rents in the CPI

New data source:

  • As outlined in the ABS’ information paper Introducing a monthly CPI indicator for Australia, from July 2022 the ABS has incorporated a new data source to measure the Rents series in the monthly CPI indicator and the quarterly CPI.
  • The Rents series prior to July 2022 was measured on a quarterly basis using a survey of approximately 4,000 rental properties collected directly from real estate agents.
  • The new dataset obtained by the ABS is updated monthly and includes approximately 480,000 rental properties that are used to produce the CPI Rents series across all capital cities.

What the CPI Rents series measures:

  • The CPI measures the prices being paid by households for the goods and services that they consume during a particular measurement period (e.g. month or quarter).  In the case of rents, this means that the CPI measures the current ‘price’ being paid by all types of households that rent including new and existing renters who are renting privately or from the government.  
  • Measures of rental inflation that are based on newly advertised rental properties only measure changes in the asking or advertised price of rental properties for new tenancies. At any given time, newly advertised tenancies represent a relatively small proportion of properties being rented in Australia. The Rents series used for the CPI measures actual rents paid rather than advertised prices.
  • Advertised rents tend to reflect the dynamic end of the rental market where the price change for new tenancies can be more volatile than that being experienced by renters with existing tenancy agreements.
  • Price changes observed in advertised rents series are expected to eventually flow through to the CPI Rents series. However, the small share of rental properties leased to new tenants each quarter means that it takes some time for changes in advertised rents to impact price change observed in the CPI Rents series.
  • A useful analogy is to think about a bathtub of water. The water in the tub represents all rents being paid by households, while the water entering the tub from the tap represents new rental agreements. The CPI series is measuring the overall temperature of the bathtub whereas an advertised rents series measures the temperature of the water flowing into the tub. It will take some time for the flow of water to change the overall temperature of the water in the bathtub.

Using price indexes

Price indexes in contracts

Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).

Use of Price Indexes in Contracts sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.

Frequently asked questions

The Frequently Asked Questions page has answers to a number of common questions to do with price indexes and the Consumer Price Index in particular.

Previous catalogue number

This release previously used catalogue number 6401.0.

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