The monthly CPI indicator rose 7.3 per cent in the 12 months to November 2022

Media Release

The monthly Consumer Price Index (CPI) indicator rose 7.3 per cent in the year to November 2022, according to the latest data from the Australian Bureau of Statistics (ABS).

Michelle Marquardt, ABS Head of Prices Statistics, said "This month's annual movement of 7.3 per cent compares to 6.9 per cent in October and 7.3 per cent in September, indicating ongoing inflationary pressures." 

The most significant contributors to the annual rise in November were Housing (+9.6 per cent), Food and non-alcoholic beverages (+9.4 per cent), Transport (+9.0 per cent), Furniture, household equipment and services (+8.4 per cent) and Recreation and culture (+5.8 per cent).

Ms Marquardt said, “The Housing group was the main contributor to the annual increase in the November monthly CPI indicator. High labour and material costs contributed to the annual rise in new dwelling prices (+17.9 per cent) although, the rate of price growth for new dwellings has eased compared to the 20.4 per cent annual rise seen in October."

Prices for all Food and non-alcoholic beverages categories remained elevated compared to November 2021. Meals out and takeaway food (+7.3 per cent) was the main contributor to the annual increase. Ms Marquardt said, “Increasing operating costs, including wages, electricity, and weather affected reductions in food supplies continued to drive prices up.”

“In the Transport group we saw some flow-on impact from the restoration of the Australian Government's fuel excise in November's higher automotive fuel prices. These rose 16.6 per cent in the year to November up from 11.8 per cent in October. Average prices for unleaded petrol peaked at just over $2 in early November before falling to just under $1.80 by the end of November," Ms Marquardt said.

Furniture, household equipment and services group rose 8.4 per cent for the year. This was primarily due to increases in prices for furniture which occurred mid-2022 due to higher freight and raw materials costs. Increases in the costs for cleaning and maintenance products were also a strong contributor to the increase for this group.

Prices related to recreational and cultural activities have also increased compared to a year ago. There have been several strong annual movements in the Holiday travel and accommodation during 2022 as prices recover from Covid-19 related lows. November’s annual movement of 12.8 per cent was the second highest since the monthly CPI indicator data series began in September 2018.

Ms Marquardt noted "November’s monthly increase of 4.3 per cent for holiday travel and accommodation departs from the falls usually seen in November following the September and October school holiday period. High jet fuel prices combined with strong consumer demand in November pushed airfare prices up, with accommodation prices also rising."

Media notes

  • When reporting ABS data you must attribute the Australian Bureau of Statistics (or the ABS) as the source.
  • For media requests and interviews, contact the ABS Media Team via (8.30am-5pm Mon-Fri).
  • Subscribe to our media release notification service to get notified of ABS media releases or publications upon their release.
Back to top of the page