ECONOMY
GROSS STATE PRODUCT
Gross State Product (GSP) represents the total market value of goods and services produced within a state or territory within a given period, after deducting the cost of goods and services used up in the process of production, but before deducting allowances for the consumption of fixed capital. It is the state/territory equivalent to the national measure - Gross Domestic Product (GDP).
In current prices, the Australian Capital Territory's (ACT) GSP increased by 6% between 2003-04 and 2004-05, from $17,309m to $18,306m. In chain volume terms, it increased 3% from $17,309m in 2003-04 to $17,829m in 2004-05. Over the six years from 1999-2000 to 2004-05, GSP increased by 10% in chain volume terms - this compares with an increase of 16% for Australia as a whole.
4.1 GROSS STATE PRODUCT, ACT |
|  |
| In current prices | Chain volume measures(a) | |
| $m | % change | $m | % change | |
| |
| 1999-2000 | 13 111 | 6.2 | 16 172 | 1.5 | |
| 2000-01 | 13 819 | 5.4 | 16 450 | 1.7 | |
| 2001-02 | 14 707 | 6.4 | 16 836 | 2.3 | |
| 2002-03 | 16 091 | 9.4 | 17 239 | 2.4 | |
| 2003-04 | 17 309 | 7.6 | 17 309 | 0.4 | |
| 2004-05 | 18 306 | 5.8 | 17 829 | 3.0 | |
| |
| (a) Experimental series. Users are cautioned these estimates are derived indirectly by calculating a deflator from the expenditure components. It is emphasised that, at times, there may be movements that cannot be fully explained in the chain volume estimates of GSP through the use of this proxy deflator. |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
The ACT's GSP per capita grew by 5% in current price terms and 3% in volume per capita from 2003-04 to 2004-05. Under the experimental series of chain volume measures, the ACT continued to have the highest per capita GSP of any state or territory in 2004-05 ($54,924), and was $12,487 (29%) higher than GDP per capita for Australia ($42,437).
4.2 GROSS STATE PRODUCT AND GROSS DOMESTIC PRODUCT, ACT and Australia: Per capita |
| |
| In current prices | Chain volume measures(a) | |
| ACT | Australia | ACT | Australia | |
| $ | % change | $ | % change | $ | % change | $ | % change | |
| |
| 1999-2000 | 41 784 | 5.2 | 33 882 | 4.9 | 51 540 | 0.5 | 38 764 | 2.8 | |
| 2000-01 | 43 575 | 4.3 | 35 751 | 5.5 | 51 870 | 0.6 | 39 024 | 0.7 | |
| 2001-02 | 45 905 | 5.3 | 37 676 | 5.4 | 52 549 | 1.3 | 39 982 | 2.5 | |
| 2002-03 | 49 886 | 8.7 | 39 621 | 5.2 | 53 444 | 1.7 | 40 804 | 2.1 | |
| 2003-04 | 53 501 | 7.2 | 41 946 | 5.9 | 53 501 | 0.1 | 41 946 | 2.8 | |
| 2004-05 | 56 392 | 5.4 | 44 107 | 5.2 | 54 924 | 2.7 | 42 437 | 1.2 | |
| |
| (a) Experimental series. Users are cautioned these estimates are derived indirectly by calculating a deflator from the expenditure components. It is emphasised that, at times, there may be movements that cannot be fully explained in the chain volume estimates of GSP through the use of this proxy deflator. |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
In 2004-05 the largest contribution to total factor income (TFI) for the ACT came from the Government administration and defence industry (26%). The Property and business services industry was next (13%) followed by Ownership of dwellings (9%) and Construction (7%).
Government administration and defence has consistently been the largest single industry contributor to TFI in the ACT back to 1989-90, when the ABS State Accounts series commenced. The contribution of these four industries has been reasonably consistent since then.
In contrast to the ACT, no single industry contributed more than 13% to TFI for Australia in 2004-05. The largest contributions came from Manufacturing (12%) and Property and business services (13%).
4.3 INDUSTRY CONTRIBUTION TO TOTAL FACTOR INCOME, ACT and Australia - 2004-05(a) |
| |
| ACT | Australia | |
| $m | % | $m | % | |
| |
| Agriculture | 10 | - | 26 000 | 3.3 | |
| Mining | 2 | - | 42 834 | 5.4 | |
| Manufacturing | 382 | 2.3 | 98 311 | 12.4 | |
| Electricity, gas and water | 423 | 2.5 | 19 472 | 2.5 | |
| Construction | 1 185 | 7.0 | 54 410 | 6.9 | |
| Wholesale trade | 316 | 1.9 | 39 404 | 5.0 | |
| Retail trade | 892 | 5.3 | 51 682 | 6.5 | |
| Accommodation, cafes and restaurants | 397 | 2.3 | 19 157 | 2.4 | |
| Transport and storage | 392 | 2.3 | 34 212 | 4.3 | |
| Communication services | 499 | 2.9 | 23 962 | 3.0 | |
| Finance and insurance | 609 | 3.6 | 59 268 | 7.5 | |
| Property and business services | 2 281 | 13.4 | 101 161 | 12.8 | |
| Government administration and defence | 4 488 | 26.4 | 28 791 | 3.6 | |
| Education | 962 | 5.7 | 33 945 | 4.3 | |
| Health and community services | 1 037 | 6.1 | 50 201 | 6.4 | |
| Cultural and recreational services | 437 | 2.6 | 11 214 | 1.4 | |
| Personal and other services | 453 | 2.7 | 14 823 | 1.9 | |
| Ownership of dwellings | 1 469 | 8.7 | 65 872 | 8.3 | |
| General government(b) | 743 | 4.4 | 15 648 | 2.0 | |
| All industries | 16 977 | 100.0 | 790 368 | 100.0 | |
| |
| - nil or rounded to zero (including null cells) |
| (a) Industries may not add to total due to rounding differences. |
| (b) This item for Australia represents the gross operating surplus of all general government operations in all industries. For the ACT this item represents the gross operating surplus of all general government operations for this state. Data are not available to provide state by industry details of general government gross operating surplus. |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
In current prices, compensation of employees continued to be the major income component of the ACT’s GSP, accounting for 61% ($11,234m) in 2004-05. Gross operating surplus and gross mixed income contributed 31% ($5,743m), while taxes less subsidies on production and imports contributed 8% ($1,373m). In comparison, compensation of employees contributed 48% to Australia’s GDP in 2004-05, reflecting differences between the economic structure of the ACT compared to Australia as a whole. Gross operating surplus and gross mixed income contributed 41% to Australia’s GDP in 2004-05, while taxes less subsidies on production and imports contributed 12%.
4.4 INCOME COMPONENTS OF GROSS STATE PRODUCT, ACT: In current prices |
| |
| Compensation of employees | Gross operating surplus and gross mixed income | Taxes less subsides on production and imports | GSP(a) | |
| $m | % | $m | % | $m | % | $m | % | |
| |
| 1999-2000 | 8 107 | 61.8 | 4 055 | 30.9 | 949 | 7.2 | 13 111 | 100.0 | |
| 2000-01 | 8 685 | 62.8 | 4 071 | 29.5 | 1 063 | 7.7 | 13 819 | 100.0 | |
| 2001-02 | 9 160 | 62.3 | 4 515 | 30.7 | 1 032 | 7.0 | 14 707 | 100.0 | |
| 2002-03 | 9 989 | 62.1 | 4 871 | 30.3 | 1 231 | 7.7 | 16 091 | 100.0 | |
| 2003-04 | 10 651 | 61.5 | 5 360 | 31.0 | 1 298 | 7.5 | 17 309 | 100.0 | |
| 2004-05 | 11 234 | 61.4 | 5 743 | 31.4 | 1 373 | 7.5 | 18 306 | 100.0 | |
| |
| (a) Due to statistical discrepancy, components of GSP may not equal total. |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
STATE FINAL DEMAND
State final demand is conceptually identical to domestic final demand at the national level (i.e. the sum of household and general government final consumption expenditure and private and public gross fixed capital formation).
In 2004-05, the ACT's state final demand grew 6% ($29,008m) in current prices. In chain volume terms, state final demand increased by 3% ($28,215m). In comparison, Australia experienced growth of 7% (current prices) and 4% (chain volume measures) in domestic final demand.
4.5 FINAL DEMAND, ACT and Australia |
| |
| ACT | Australia | |
| Current prices | Chain volume measures | Current prices | Chain volume measures | |
| $m | % change | $m | % change | $m | % change | $m | % change | |
| |
| 1999-2000 | 19 550 | 15.2 | 22 569 | 11.5 | 657 678 | 6.3 | 729 350 | 4.9 | |
| 2000-01 | 20 811 | 6.5 | 22 926 | 1.6 | 687 762 | 4.6 | 730 552 | 0.2 | |
| 2001-02 | 22 503 | 8.1 | 24 111 | 5.2 | 735 684 | 7.0 | 762 580 | 4.4 | |
| 2002-03 | 25 333 | 12.6 | 26 150 | 8.5 | 797 447 | 8.4 | 808 291 | 6.0 | |
| 2003-04 | 27 322 | 7.9 | 27 322 | 4.5 | 855 338 | 7.3 | 855 338 | 5.8 | |
| 2004-05 | 29 008 | 6.2 | 28 215 | 3.3 | 912 454 | 6.7 | 892 645 | 4.4 | |
| |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
Structural differences between the ACT economy and Australian economy can be seen within the components of state final demand. The largest difference is in the relative importance of government, particularly in final consumption expenditure. In 2004-05, general government final consumption expenditure made up 53% of the ACT's state final demand, but only made up 18% of Australian final demand in current prices. The difference was also noticeable in capital expenditure, where private gross fixed capital expenditure accounted for 9% of state final demand at current prices in the ACT compared with 22% for Australia.
4.6 FINAL DEMAND, ACT and Australia: In current prices - 2004-05 |
| |
| | | ACT | Australia | |
| | | $m | % | $m | % | |
| |
| Final consumption expenditure | | | | | |
| General government | 15 296 | 52.7 | 162 993 | 18.3 | |
| Household | 9 970 | 34.4 | 522 551 | 58.6 | |
| Gross fixed capital formation | | | | | |
| Private | | | | | |
| | Dwellings | 822 | 2.8 | 60 311 | 6.8 | |
| | Non-dwelling construction | 443 | 1.5 | 42 339 | 4.7 | |
| | Machinery and equipment | 840 | 2.9 | 61 994 | 7.0 | |
| | Livestock | - | - | 2 881 | 0.3 | |
| | Intangible fixed assets | 246 | 0.8 | 11 234 | 1.3 | |
| | Ownership transfer costs | 255 | 0.9 | 14 562 | 1.6 | |
| | Total private | 2 607 | 9.0 | 193 320 | 21.7 | |
| Public | 1 136 | 3.9 | 33 590 | 3.8 | |
| State final demand | 29 008 | 100.0 | 891 524 | 100.0 | |
| |
| - nil or rounded to zero (including null cells) |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
Household final consumption expenditure in the ACT comprised 40%, in chain volume terms, of the territory's total final consumption expenditure in 2004-05. This proportion has remained relatively stable over time.
4.7 FINAL CONSUMPTION EXPENDITURE, ACT: Chain volume measures
In 2004-05, household final consumption expenditure for the ACT, in current prices, was $9,970m - this represented approximately 2% of total household consumption expenditure in Australia. Rent and other dwelling services accounted for the greatest single proportion of household expenditure in the ACT (18%), consistent with the Australian figure (17%).
Other major contributors to household final consumption expenditure categories in the ACT in 2004-05 were Miscellaneous goods and services (15%), Recreation and culture (13%), Food (11%) and Transport (10%). This pattern of expenditure was similar to the pattern for Australia.
4.8 HOUSEHOLD FINAL CONSUMPTION EXPENDITURE, ACT and Australia: In current prices - 2004-05 |
| |
| ACT | Australia | |
| $m | % | $m | % | |
| |
| Food | 1 082 | 10.9 | 56 903 | 10.9 | |
| Alcoholic beverages and tobacco | 404 | 4.1 | 21 068 | 4.0 | |
| Clothing and footwear | 407 | 4.1 | 19 769 | 3.8 | |
| Rent and other dwelling services | 1 837 | 18.4 | 90 035 | 17.2 | |
| Electricity, gas and other fuels | 238 | 2.4 | 10 745 | 2.1 | |
| Furnishings and other household equipment | 642 | 6.4 | 29 213 | 5.6 | |
| Health | 373 | 3.7 | 27 235 | 5.2 | |
| Transport | 1 030 | 10.3 | 61 947 | 11.9 | |
| Communications | 280 | 2.8 | 14 980 | 2.9 | |
| Recreation and culture | 1 275 | 12.8 | 61 796 | 11.8 | |
| Education services | 337 | 3.4 | 18 271 | 3.5 | |
| Hotels, cafes and restaurants | 670 | 6.7 | 39 580 | 7.6 | |
| Miscellaneous goods and services | 1 483 | 14.9 | 71 009 | 13.6 | |
| Net expenditure interstate | -88 | -0.9 | na | - | |
| Total(a) | 9 970 | 100.0 | 522 551 | 100.0 | |
| |
| - nil or rounded to zero (including null cells) |
| (a) Total for Australia includes net expenditure overseas. |
| Source: Australian National Accounts: State Accounts, 2004-05 (cat. no. 5220.0). |
The ACT's public gross fixed capital formation increased, in chain volume terms, to $1,144m in 2004-05, up 4% on the $1,105m spent in 2003-04. Private gross fixed capital formation for the ACT, in chain volume terms, was $2,640m in 2004-05, up 3% from 2003-04 ($2,574m).
4.9 GROSS FIXED CAPITAL FORMATION, ACT: Chain volume measures
GROSS HOUSEHOLD DISPOSABLE INCOME
Gross State Product per capita does not measure income received by residents of a particular state or territory because a proportion of income generated in the production process may be transferred to other states/territories or overseas (and conversely income may be received from other states/territories or from overseas). A measure that takes these interstate or overseas flows into account is gross household disposable income per capita.
In 2004-05, ACT residents had the highest gross household disposable income per capita ($43,084), while Tasmanian residents had the lowest ($22,967). The average across Australia was $27,468. Differences between states and territories reflected differences in a range of factors, including average wage levels, the proportion of the population in employment, the age distribution of the population and differences in the level of dwelling rent (including that imputed to owner occupiers). For example, one reason for the high level of gross household disposable income per capita in the ACT is the ACT's higher labour force participation rate.
4.10 GROSS HOUSEHOLD DISPOSABLE INCOME PER CAPITA, By state and territory - In current prices - 2004-05 |
| |
| $ | |
| |
| Australian Capital Territory | 43 084 | |
| New South Wales | 28 629 | |
| Victoria | 28 501 | |
| Queensland | 24 455 | |
| South Australia | 25 513 | |
| Western Australia | 27 016 | |
| Tasmania | 22 967 | |
| Northern Territory | 26 728 | |
| Australia | 27 468 | |
| |
| Source: Australian National Accounts, State Accounts, 2004-05 (cat. no. 5220.0). |
INTERNATIONAL MERCHANDISE TRADE
For imports, international merchandise trade refers to commodities which are released from the Australian Customs Service control in the ACT. For exports, it refers to commodities for which the final stage of production was undertaken within the ACT.
Generally the level of both imports to, and exports from, the ACT are minor in the context of Australia's overall level of imports and exports. In 2004-05, imports to the ACT were $28m.
INTERNATIONAL TRADE IN SERVICES
Between 2003-04 and 2004-05, international services credits (exports of services) for the ACT declined by $28m (3%) to $777m, while international services debits (imports of services) rose $10m (1%) to $1,095m. In comparison, international services credits rose 4% and debits rose 10% at the national level (based on original data).
The contribution of different components to the totals varies quite markedly between the ACT and Australia as a whole. For the ACT, Government services n.i.e. is by far the largest contributor, whereas for Australia the largest contributor is Travel. Expenditure on travel nevertheless remains a significant contributor to international trade in services for the ACT. In 2004-05 travel 'credits' (expenditure on travel services in the ACT by overseas visitors) were $239m, or 31% of total credits. Travel 'debits' (expenditure on travel services by ACT residents when abroad) were $296m, or 27% of the total. While travel credits decreased by 1% between 2003-04 and 2004-05, travel debits increased by 9%.
The importance of education related travel to the ACT travel credits component can clearly be seen from the following table. In 2004-05, education related travel contributed 63% of the personal travel component, compared with a 2003-04 contribution of 59%. For Australia as a whole, education related travel contributed 39% to the personal travel component in 2004-05.
4.11 INTERNATIONAL TRADE IN SERVICES, ACT and Australia: Credits |
| |
| | | 2003-04 | 2004-05 | |
| | | ACT | Aust. | ACT | Aust. | |
| | | $m | $m | $m | $m | |
| |
| Transportation | - | 7 602 | 1 | 8 074 | |
| Travel | | | | | |
| Business | 25 | 1 339 | 25 | 1 316 | |
| Personal | | | | | |
| | Education-related | 129 | 6 383 | 135 | 6 902 | |
| | Other | 88 | 10 578 | 79 | 10 850 | |
| | Total | 217 | 16 961 | 214 | 17 752 | |
| Communication(a) | 46 | 834 | 12 | 768 | |
| Construction services | np | 84 | - | 83 | |
| Insurance services | - | 686 | - | 684 | |
| Financial services | - | 995 | - | 1 004 | |
| Computer & information services | np | 1 125 | - | 1 149 | |
| Royalties & licence fees | np | 622 | np | 652 | |
| Other business services | 24 | 3 566 | 42 | 3 710 | |
| Personal, cultural & recreational services | np | 523 | np | 428 | |
| Government services n.i.e. | 467 | 835 | 473 | 867 | |
| Total(b) | 805 | 35 172 | 777 | 36 487 | |
| |
| - nil or rounded to zero (including null cells) |
| np not available for publication but included in totals where applicable, unless otherwise indicated |
| (a) Communication services includes other services n.i.e. |
| (b) Total includes confidential items. |
| Source: International Trade in Services by Country, by State and by Detailed Services Category, Financial Year, 2004-05 (cat. no. 5368.0.55.003), Data cubes. |
4.12 INTERNATIONAL TRADE IN SERVICES, ACT and Australia: Debits |
| |
| | | 2003-04 | 2004-05 | |
| | | ACT | Aust. | ACT | Aust. | |
| | | $m | $m | $m | $m | |
| |
| Transportation | - | -11 634 | -1 | -13 203 | |
| Travel | | | | | |
| Business | -62 | -2 143 | -55 | -2 205 | |
| Personal | | | | | |
| | Education-related | -17 | -698 | -23 | -703 | |
| | Other | -193 | -9 740 | -218 | -11 677 | |
| | Total | -210 | -10 438 | -241 | -12 380 | |
| Communication(a) | -15 | -879 | np | -694 | |
| Construction services | - | - | - | - | |
| Insurance services | - | -874 | - | -872 | |
| Financial services | - | -587 | - | -584 | |
| Computer & information services | -18 | -1 009 | -1 | -1 043 | |
| Royalties & licence fees | -4 | -1 978 | -5 | -2 050 | |
| Other business services | np | -3 499 | np | -3 222 | |
| Personal, cultural & recreational services | np | -883 | np | -998 | |
| Government services n.i.e. | -756 | -756 | -760 | -760 | |
| Total(b) | -1 085 | -34 680 | -1 095 | -38 011 | |
| |
| - nil or rounded to zero (including null cells) |
| np not available for publication but included in totals where applicable, unless otherwise indicated |
| (a) Communications services includes other services n.i.e. |
| (b) Total includes confidential items. |
| Source: International Trade in Services by Country, by State and by Detailed Services Category, Financial Year, 2004-05 (cat. no. 5368.0.55.003), Data cubes. |
LENDING ACTIVITY
Lending activity can be classified into four categories: housing, personal, commercial, and lease. Due to confidentiality restraints, only data regarding housing finance for owner occupation and personal finance commitments can be published.
Housing finance
Housing finance is defined as secured housing finance commitments made by significant lenders to individuals for the construction or purchase of dwellings for owner occupation.
Housing finance in the ACT for owner occupation (excluding refinancing) was $1,301m in 2004-05, down $158m from 2003-04. There was a slight increase in finance for purchase of new buildings ($112m in 2004-05), but decreases in all other housing finance purposes.
The largest component of housing finance remained the purchase of established dwellings, at $1,416m in 2004-05. This represented a 10% decrease on 2003-04 ($1,580m). Refinancing decreased by 6% to $331m in 2004-05, and finance for construction was down $19m (16%).
4.13 HOUSING FINANCE FOR OWNER OCCUPATION, All lenders - ACT |
| |
| 1999-2000 | 2000-01 | 2001-02 | 2002-03 | 2003-04 | 2004-05 | |
| Purpose of commitment | $m | $m | $m | $m | $m | $m | |
| |
| Purchase of established dwellings | 1 225 | 1 007 | 1 245 | 1 558 | 1 580 | 1 416 | |
| Construction | 151 | (a)80 | (b)96 | 135 | 122 | 103 | |
| Purchase of new dwellings | 52 | (a)56 | (b)74 | 93 | 111 | 112 | |
| Total | 1 428 | 1 154 | 1 441 | 1 787 | 1 813 | 1 632 | |
| Refinancing | 175 | 155 | 225 | 292 | 353 | 331 | |
| Total excluding refinancing | 1 253 | 999 | 1 216 | 1 495 | 1 459 | 1 301 | |
| |
| (a) Data for February 2001 for Construction and Purchase of new dwellings are confidential. The combined value of these two categories is included in the sub-total and total. |
| (b) Data for February and March 2002 for Construction and Purchase of new dwellings are confidential. The combined value of these two categories for each month are included in the sub-total and total. |
| Source: Housing Finance, Australia, February 2006 (cat. no. 5609.0), Time series spreadsheets. |
Personal finance
Personal finance is defined as personal finance commitments made by significant lenders to individuals for their own personal (non-business related) use, excluding secured housing finance for owner occupation.
Fixed personal finance commitments were $448m in 2004-05, down $6m (1%) compared with 2003-04. Refinancing was $121m, and accounted for 27% of fixed personal finance commitments. The remaining fixed commitments were $328m, down $7m (2%) on 2003-04.
4.14 PERSONAL FINANCE COMMITMENTS, All lenders - ACT |
| |
| | | 1999-2000 | 2000-01 | 2001-02 | 2002-03 | 2003-04 | 2004-05 | |
| | | $m | $m | $m | $m | $m | $m | |
| |
| Fixed loan commitments | | | | | | | |
| Purchases of | | | | | | | |
| | Motor vehicles, boats etc. | 166 | 149 | 143 | 139 | 140 | 143 | |
| | Household and personal goods | 13 | 11 | 16 | 22 | 21 | 22 | |
| | Individual residential blocks of land | 17 | 14 | 15 | 41 | 41 | 28 | |
| Owner occupied housing (unsecured) | 6 | 6 | (a)1 | (a)4 | 5 | 5 | |
| Travel and holidays | 7 | 6 | 6 | (a)5 | 9 | 10 | |
| Debt consolidation | 38 | 38 | 35 | 44 | 43 | 53 | |
| Refinancing | 55 | 40 | 47 | (a)82 | 119 | 121 | |
| Other | 47 | 42 | (a)48 | 69 | 75 | 59 | |
| Total(b) | 349 | 306 | 327 | 430 | 454 | 448 | |
| Revolving credit facilities | | | | | | | |
| New and increased credit limits | 596 | 528 | 524 | 590 | 704 | 545 | |
| Total credit limits (at end of year) | 1 961 | 2 167 | 2 337 | 2 762 | 3 350 | 3 570 | |
| Credit used (at end of year) | 817 | 884 | 1 000 | 1 251 | 1 549 | 1 676 | |
| |
| (a) Some months in this category are confidential. |
| (b) Due to rounding, totals shown in this table may not equal the sum of components. |
| Source: Lending Finance, Australia, February 2006 (cat. no. 5671.0), Time series spreadsheets. |
CONSUMER PRICE INDEX
The Consumer Price Index (CPI) is a widely used economic indicator, that provides a general measure of changes in prices of consumer goods and services purchased by Australian households. Prices are measured in each of the eight state and territory capital cities. The CPI is divided into 11 major groups, each representing a specific set of commodities as follows: Food; Alcohol and tobacco; Clothing and footwear; Housing; Household contents and services; Health; Transportation; Communication; Recreation; Education; and Financial and insurance services.
The All Groups CPI for Canberra in 2004-05 was 146.7, a rise of 2.3% from 2003-04. In comparison, the All Groups CPI for the weighted average of the eight capital cities was 147.0 in 2004-05, a rise of 2.4% from 2003-04.
4.15 CONSUMER PRICE INDEX - All groups index(a)(b) |
| |
| Canberra | Australia(c) | |
| Index | % change from previous period | Index | % change from previous period | |
| |
| 1999-2000 | 124.2 | 2.2 | 124.7 | 2.4 | |
| 2000-01(d) | 131.9 | 6.2 | 132.2 | 6.0 | |
| 2001-02 | 135.2 | 2.5 | 136.0 | 2.9 | |
| 2002-03 | 139.7 | 3.3 | 140.2 | 3.1 | |
| 2003-04 | 143.4 | 2.6 | 143.5 | 2.4 | |
| 2004-05 | 146.7 | 2.3 | 147.0 | 2.4 | |
| |
| (a) Base of each index: 1989-90 = 100.0. |
| (b) Index numbers for financial years are calculated as the simple arithmetic averages of the quarterly index numbers. |
| (c) Weighted average of eight capital cities. |
| (d) The 2000-01 data were affected by the introduction of The New Tax System, in particular, the introduction of the Goods and Services Tax from 1 July 2000. |
| Source: Consumer Price Index, Australia, March Quarter 2006 (cat. no. 6401.0), Time series spreadsheets. |
At the group level, the largest price changes from 2003-04 to 2004-05 in Canberra, in percentage terms, occurred in Education (up 6%) and Health (up 5%). Clothing and footwear fell by 2%. For the weighted average of the eight capital cities, the most significant changes, in percentage terms, were also in Education (up 7%) and Health (up 5%).
4.16 CONSUMER PRICE INDEX, Percentage change from previous period |
| |
| | 1999-2000 | 2000-01 | 2001-02 | 2002-03 | 2003-04 | 2004-05 | |
| | % | % | % | % | % | % | |
| |
| Canberra | | | | | | | |
| Food | 1.2 | 5.8 | 5.9 | 3.4 | 3.4 | 1.8 | |
| Alcohol and tobacco | 2.6 | 11.2 | 3.6 | 2.5 | 3.8 | 3.3 | |
| Clothing and footwear | -1.0 | 6.9 | 1.2 | 1.6 | -1.2 | -2.2 | |
| Housing | 4.2 | 9.7 | 4.4 | 4.4 | 7.3 | 3.1 | |
| Household contents and services | 0.7 | 4.2 | 1.4 | 1.1 | 0.2 | 0.6 | |
| Health | -1.7 | 3.7 | 4.1 | 7.0 | 7.6 | 5.3 | |
| Transportation | 4.9 | 4.6 | -1.6 | 2.0 | 0.3 | 2.6 | |
| Communication | -5.0 | 7.0 | -0.2 | 3.1 | 1.4 | 0.9 | |
| Recreation | 1.2 | 2.6 | 2.6 | 3.5 | -1.9 | 1.3 | |
| Education | 3.0 | 3.6 | 3.3 | 3.6 | 4.9 | 6.1 | |
| Financial and insurance services | . . | . . | . . | . . | . . | . . | |
| Australia(a) | | | | | | | |
| Food | 2.1 | 5.0 | 5.2 | 3.6 | 3.0 | 1.6 | |
| Alcohol and tobacco | 3.9 | 11.1 | 4.3 | 2.9 | 4.3 | 3.5 | |
| Clothing and footwear | -1.1 | 6.6 | -0.1 | 0.8 | -0.5 | -1.7 | |
| Housing | 4.3 | 8.0 | 3.0 | 3.6 | 4.4 | 3.8 | |
| Household contents and services | -0.4 | 3.5 | 2.0 | 1.1 | 0.1 | -0.3 | |
| Health | -2.9 | 3.5 | 3.4 | 6.8 | 6.8 | 5.4 | |
| Transportation | 5.6 | 6.3 | 0.2 | 2.4 | 1.0 | 3.4 | |
| Communication | -5.0 | 7.1 | 0.5 | 3.1 | 1.4 | 1.0 | |
| Recreation | 0.8 | 3.5 | 3.2 | 2.6 | -1.4 | 0.5 | |
| Education | 4.8 | 4.9 | 4.5 | 5.0 | 6.3 | 6.9 | |
| Financial and insurance services | . . | . . | . . | . . | . . | . . | |
| |
| . . not applicable |
| (a) Weighted average of the eight capital cities. |
| Source: Consumer Price Index, Australia, March Quarter 2006 (cat. no.6401.0), Time series spreadsheets. |
BIBLIOGRAPHY
ABS
Australian National Accounts, State Accounts, 2004-05, cat. no. 5220.0.
Consumer Price Index, Australia, March quarter 2006, cat. no. 6401.0, Time series spreadsheets.
Housing Finance, Australia, February 2006, cat. no. 5609.0, Time series spreadsheets.
International Trade in Services by Country, by State and by Detailed Services Category, Financial Year, 2004-05, cat. no. 5368.0.55.003, Data cubes.
Lending Finance, Australia, February 2006, cat. no. 5671.0, Time series spreadsheets.
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