Consumer Price Index, Australia

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

Reference period
March Quarter 2023
Released
26/04/2023

Key statistics

  • The Consumer Price Index (CPI) rose 1.4% this quarter.

  • Over the twelve months to the March 2023 quarter, the CPI rose 7.0%.

  • The most significant price rises were Medical and hospital services (+4.2%), Tertiary education (+9.7%), Gas and other household fuels (+14.3%), and Domestic holiday travel and accommodation (+4.7%).

What's new this quarter

  • The Australian Bureau of Statistics (ABS) and the Reserve Bank of Australia (RBA) have published a joint paper called New Insights into the Rental Market. The paper draws out new insights into the private Australian rental market using a new large administrative dataset of rental properties, which is an input to the Consumer Price Index (CPI). For more details see New Insights into the Rental Market.
  • Monthly inflation data can be found in the Monthly CPI Indicator.

Main features

Weighted average of eight capital cities
 Dec Qtr 2022 to Mar Qtr 2023Mar Qtr 2022 to Mar Qtr 2023
% change% change
All groups CPI1.47.0
Food and non-alcoholic beverages1.68.0
Alcohol and tobacco1.14.4
Clothing and footwear-2.63.2
Housing1.99.8
Furnishings, household equipment and services-0.56.7
Health3.85.3
Transport0.64.3
Communication0.11.2
Recreation and culture0.28.6
Education5.35.4
Insurance and financial services1.96.5
CPI analytical series
 All groups CPI, seasonally adjusted1.37.1
 Trimmed mean1.26.6
 Weighted median1.25.8

Overview

Annual CPI inflation eases in the March quarter

Annual CPI inflation was 7.0 per cent in the March quarter, down from a 30 year high of 7.8 per cent in the December quarter. While prices continue to rise for most goods and services, these rises have moderated in the most recent quarter, resulting in lower annual inflation. Trimmed mean annual inflation, which excludes large price rises and falls, was 6.6 per cent in the March quarter, down from 6.9 per cent in December.

Services annual inflation of 6.1% the highest since 2001

Goods annual inflation eased after two years of steady increases, from 9.5 per cent to 7.6 per cent, due to discounting on furniture, appliances and clothes in the March quarter and lower automotive fuel prices. Services annual inflation recorded its largest annual rise since 2001, driven by higher prices for holiday travel, medical services, rents and restaurant meals.

New dwellings price growth continues to ease

The rate of price growth for New dwellings has continued to ease this quarter following a record annual rise in the September 2022 quarter. The recent moderation in prices reflects improvements in the supply of construction materials and a softening in new demand. 

The number of payments being made under various Government construction grant programs introduced in 2020 have reached very low levels compared to previous quarters, resulting in a small impact on new dwelling prices. 

Strength in rental prices continues across the capital cities

Rental prices have recorded the largest annual rise since 2010, reflecting strong demand amid low vacancy rates across the country. Rental price growth continues to increase in Sydney and Melbourne with both cities recording their strongest annual rises since 2012. 

Gas and electricity prices rise further

Price reviews reflecting higher wholesale gas prices led to rises in gas and other household fuels, with rises seen across all capital cities. The annual rise in gas prices of 26.2 per cent is the largest on record, reflecting this quarter's rise as well as price reviews in the September quarter 2022. 

The annual rise in Electricity reflects price reviews in the September quarter 2022, which were driven by higher wholesale prices. However, price rises in the September quarter 2022 were partially offset by the introduction of electricity rebates in WA, QLD and the ACT. The unwinding of these rebates has seen the full effects of higher electricity prices reflected in the March quarter.

Annual food inflation eases but remains high

Annual food inflation eased to 8.0 per cent, down from 9.2 per cent in the December quarter. Prices rose for all food categories this quarter with the strongest rises for non-alcoholic beverages, food products n.e.c. and fruit and vegetables.

Automotive fuel price falls driven by diesel

Automotive fuel prices fell 0.8 per cent for the quarter. While unleaded fuel prices were unchanged for the quarter, diesel prices fell 10.3 per cent. Automotive fuel prices remain high, however, the March quarter represents one year since Ukraine was invaded, which saw prices rise 11.0 per cent in the March 2022 quarter. This is reflected in a lower annual movement of 1.1 per cent in the March 2023 quarter, down from 13.2 per cent in December.

Increase in education fees highest in over five years

The education group, which covers primary, secondary and tertiary education recorded the highest rise in five years. Higher wages growth saw school fees increase, which was offset by free pre-school introduced in NSW, VIC and QLD. Tertiary education fees increased due to higher indexation of course fees and the final effects of the Job-ready graduate package introduced in 2021.

Main contributors to change

CPI groups


 

Food and non-alcoholic beverages group (+1.6%)

  • Food products n.e.c. rose 3.2%, with high ingredient, packaging and processing costs flowing through to consumers for products such as potato chips, chocolates, butter and oil-based spreads.
  • Meals out and take away foods rose 0.8% due to elevated operating costs and minimum wage increases.
  • Fruit and vegetables rose 2.4%, due to wet weather in 2022 in potato growing regions leading to shortages of frozen potato products. Higher prices were also seen for avocados, citrus and apples.

In seasonally adjusted terms, the group rose 1.0% this quarter.

Over the past twelve months, the group rose 8.0%. Meals out & take away foods (+7.3%) was the main contributor.

Alcohol and tobacco group (+1.1%)

  • Spirits (+3.1%) and Beer (+1.9%) rose due to the bi-annual increase in the excise tax for alcohol on February 1. 

In seasonally adjusted terms, the group rose 0.8%. 

Over the past twelve months, the group rose 4.4%. 

Clothing and footwear group (-2.6%)

  • Garments (-3.2%) and Footwear (-5.0%) fell due to discounting on summer stock.

In seasonally adjusted terms, the group fell -1.0%. The main contributor was Garments for women (-2.1%).

Over the past twelve months the group rose 3.2%.

Housing group (+1.9%)

The Housing group rose 1.9% due to increases in Utilities (+5.2%), Rents (+1.6%) and New dwellings (+1.2%).

In seasonally adjusted terms, the group rose 1.9%.

Over the past twelve months the group rose 9.8%. The main contributor to the annual rise was New dwelling purchase by owner occupiers (+12.7%) followed by Utilities (+14.9%).

Utilities

  • Utilities rose 5.2% driven by Gas and other household fuels (+14.3%) and Electricity (+3.0%).
  • Gas and other household fuels rose in all capital cities, particularly Melbourne (+22.7%), reflecting higher wholesale gas prices being passed on by retailers. This quarter's rise was notable as prices rose in all eight capital cities, whereas typically only Melbourne's prices are reviewed in the March quarter.
  • The annual rise in Gas prices of 26.2% is the largest on record, reflecting this quarter's rise as well as the annual price reviews in September quarter 2022.
  • Electricity recorded an annual rise of 15.5%, the largest annual rise since 2013. The rise in Electricity this quarter was due to increases in Brisbane, Hobart and Perth following the unwinding of the Queensland Government's $175 cost of living rebate, the Tasmanian Government's $119 winter bill buster, and the Western Australian Government's $400 household electricity credit in 2022.

Rents

  • Rents rose 1.6% this quarter. Rental price growth continues to pick up in all capital cities with rises driven by tight rental markets and low vacancy rates across the country. Rents rose 4.9% annually, which is the highest annual rise since 2010.

New dwellings

  • New dwelling purchase by owner occupiers rose 1.2%.
  • While new dwelling prices remain high reflecting increased labour and material costs, the rate of price growth has continued to ease this quarter due to subdued new demand and improvements in the supply of materials.
  • Fewer grant payments this quarter from the Federal Government's HomeBuilder program and similar state-based housing construction grants also contributed to the rise.

Furnishings, household equipment and services group (-0.5%)

  • Furniture and furnishings (-3.5%), Household textiles (-4.2%) and Household appliances, utensils and tools (-2.9%), fell due to post Christmas discounting.
  • Non-durable household products (+1.7%) rose due to price rises in a range of products including tissues, skincare, nappies and dishwashing products.
  • Domestic and household services (+1.6%) increased due to higher wages, utilities, and supply costs for businesses.

In seasonally adjusted terms the group rose 0.7%. The main contributors were Childcare (+2.4%) and Other non-durable household products (+1.6%).

Over the past twelve months the group rose 6.7%. The main contributors to the rise were Non-durable household products (+8.8%) and domestic and household services (+5.1%).

Health group (+3.8%)

  • Medical and hospital services rose 4.2% due to an increase in private health insurance premiums and increases in non-hospital medical services.
  • Pharmaceutical products (+4.5%) also contributed as a result of the cyclical reduction in the proportion of consumers who qualify for subsidies under the Pharmaceutical Benefits Scheme (PBS) and Medicare Safety Net. The safety net thresholds for both the PBS and Medicare are reset on 1 January each year.
  • The PBS general patient non-concession co-payment was reduced from $42.50 to $30 on 1 January 2023, this has slightly softened the Pharmaceutical series quarterly rise. Without the effect of the lower co-payment, Pharmaceuticals would have increased 6.4% instead of 4.5%.

In seasonally adjusted terms the group rose 2.5%. The main contributor was Medical and hospital services (+3.5%).

Over the past twelve months the group rose 5.3%. Medical and hospital services (+6.7%) was the main contributor.

Transport group (+0.6%)

  • Motor vehicles rose 1.8% as manufacturers continue to pass on input cost pressures due to material shortages and increased overhead costs.
  • Automotive fuel (-0.8%) partially offset the rise due to falling wholesale diesel prices.

In seasonally adjusted terms, the group rose 0.7%. The main contributor was Motor Vehicles (+1.8%).

Over the past 12 months, the group rose 4.3%. Motor vehicles (+5.9%), Spare parts and accessories (+14.5%) and Maintenance and repair of motor vehicle (+5.4%) were the main contributors.

Communication group (+0.1%)

  • A rise of 0.1% in telecommunication equipment and services was the main contributor.

In seasonally adjusted terms, the group fell 0.1% this quarter.

Over the past twelve months, the group rose 1.2%. Telecommunication equipment and services (+1.1%) was the main contributor.

Recreation and culture group (+0.2%)

  • Domestic holiday travel and accommodation rose 4.7% due to strong demand for accommodation, particularly during the January school holiday period. Airfares prices fell slightly following large price rises in the December quarter 2022.
  • International holiday travel and accommodation fell 8.2% as many destinations entered their off-peak seasons.

In seasonally adjusted terms, the group rose 1.3%. Domestic travel and accommodation (+6.7%) was the main contributor.

Over the past twelve months the group rose 8.6%. Domestic holiday travel and accommodation (+25.0%) was the main contributor.

Education group (+5.3%)

  • Tertiary education rose 9.7%. Student contributions were indexed at 3.9% with the remaining increase coming from the last impact of the job-ready graduate package. There was a partial offset in TAFE fees as the federal government, in partnership with state and territory governments, provided 180,000 fee-free TAFE places in 2023.
  • The job-ready graduate package commenced in January 2021, which saw a new fee structure introduced. Fees for existing students were ‘grandfathered’ so that existing students paid either the same or lower fees, depending on the course they were studying. As students graduated, proportionally fewer are covered by the grandfathering arrangements, meaning that fees have increased on average. 2023 is the final year ‘grandfathered’ student fees will be accounted for in the CPI.
  • Secondary education rose 4.9% following the commencement of the new school year.
  • Preschool and primary education fell 0.8% as the NSW, VIC, and QLD Governments launched programs to provide fee relief to families with children in preschool (called 'Kinder' in Victoria, 'Kindy' in Queensland) in 2023. This resulted in reduced out-of-pocket expenses in Sydney, Melbourne and Brisbane. This was partially offset by rises in primary education fees following the commencement of the new school year.

In seasonally adjusted terms, the group rose 3.1% this quarter. The main contributors were Tertiary education (+8.7%) and Secondary education (+1.9%).

Over the past twelve months, the group rose 5.4%. Tertiary education (+9.6%) was the main contributor.

Insurance and financial services group (+1.9%)

  • Other financial services (+1.6%) was the main contributor to the rise.
  • Insurance (+3.5%) recorded the strongest quarterly rise since 2000. Insurance costs rose across house, house contents and motor vehicle insurance.

In seasonally adjusted terms, the group rose 1.8%.

Over the past twelve months the group rose 6.5%. Other financial services (+6.6%) was the main contributor to the rise.

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 1.9% due to Medical and hospital services (+4.2%), Tertiary education (+9.7%), and Domestic holiday travel and accommodation (+4.7%).
  • Tradables rose 0.3% due to Gas and other household fuels (+14.3%), Motor vehicles (+1.8%) and Snacks and confectionery (+4.1%). The small rise for Tradables was partially offset by price falls for a range of imported goods including furniture, appliances, clothing and automotive fuel, as well as a fall in prices for international holiday travel.

In seasonally adjusted terms, the Tradables component of the All groups CPI rose 0.6% and the Non–tradables component rose 1.7%.

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.

  • Non-discretionary goods and services rose 1.9% through the quarter, and 7.2% through the year. The rise this quarter was driven by Medical and hospital services (+4.2%), Gas and other household fuels (+14.3%) and New dwelling purchase by owner occupiers (+1.2%).
  • Discretionary goods and services rose 0.6% through the quarter, and 6.8% through the year. The rise this quarter was driven by Tertiary education (+9.7%), Domestic holiday travel (+4.7%) and Motor vehicles (+1.8%).

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 March 2023 quarter:

  • The trimmed mean rose 1.2%, following a rise of 1.7% in the December 2022 quarter.
  • Over the past twelve months, the trimmed mean rose 6.6%, following a rise of 6.9% over the twelve months to the December 2022 quarter.
  • The weighted median rose 1.2%, following a rise of 1.6% in the December 2022 quarter.
  • Over the past twelve months, the weighted median rose 5.8%, following a rise of 5.6% over the twelve months to the December 2022 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 1.3% for the quarter.
Dec Qtr 2022 to Mar Qtr 2023 percentage change
 Original (%)Seasonally Adjusted (%)
All groups CPI1.41.3
Food and non-alcoholic beverages1.61.0
Alcohol and tobacco1.10.8
Clothing and footwear-2.6-1.0
Housing1.91.9
Furnishings, household equipment and services-0.50.7
Health3.82.5
Transport0.60.7
Communication0.1-0.1
Recreation and culture0.21.3
Education5.33.1
Insurance and financial services1.91.8
International trade exposure series  
 Tradables0.30.6
 Non-tradables1.91.7

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, All groups index numbers and percentage changes
 Index number(a)Percentage change (%)
 Mar Qtr 2023Dec Qtr 2022 to Mar Qtr 2023Mar Qtr 2022 to Mar Qtr 2023
Sydney132.71.47.3
Melbourne132.71.26.8
Brisbane134.61.97.4
Adelaide132.41.27.9
Perth130.40.95.8
Hobart134.01.26.9
Darwin128.21.36.2
Canberra131.31.46.2
Weighted average of eight capital cities132.61.47.0

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

Capital city highlights:

At the All groups level, the CPI rose in all eight capital cities, ranging from 0.9% in Perth to 1.9% in Brisbane.

 

Sydney (+1.4%)

  • New dwelling purchase by owner occupiers (+3.0%).

  • Domestic holiday travel and accommodation (+9.3%).

  • Medical and hospital services (+3.8%).

  • Tertiary education (+8.1%).

  • International holiday travel and accommodation (-7.9%).

Sydney recorded an annual rise of 7.3%.


 

Melbourne (+1.2%)

  • Gas and other household fuels (+22.7%).
  • Tertiary education (+11.1%).
  • Medical and hospital services (+4.3%).
  • Domestic holiday travel and accommodation (+4.4%).
  • International holiday travel and accommodation (-8.9%).

Melbourne recorded an annual rise of 6.8%.

Brisbane (+1.9%)

Brisbane recorded the largest rise out of all the capital cities.

  • Electricity (+32.5%).
  • Medical and hospital services (+6.1%).
  • Tertiary education (+10.1%).
  • Rents (+2.4%).
  • International holiday travel and accommodation (-5.8%).

Brisbane recorded an annual rise of 7.4%. 

Adelaide (+1.2%)

  • New dwelling purchase by owner occupiers (+2.6%).
  • Tertiary education (+10.1%).
  • Medical and hospital services (+3.2%).
  • Rents (+1.6%).
  • International holiday travel and accommodation (-5.6%).

Adelaide recorded an annual rise of 7.9%, the largest rise of all capital cities.

Perth (+0.9%)

Perth recorded the smallest rise out of all the capital cities.

  • Medical and hospital services (+3.4%).
  • Secondary education (+5.6%).
  • Tertiary education (+8.3%).
  • Electricity (+4.5%).
  • International holiday travel and accommodation (-10.7%).

Perth recorded an annual rise of 5.8%.

Hobart (+1.2%)

  • Electricity (+8.9%).
  • Medical and hospital services (+3.4%).
  • Tertiary education (+11.7%).
  • New dwelling purchase by owner occupiers (+2.0%).
  • International holiday travel and accommodation (-12.2%).

Hobart recorded an annual rise of 6.9%.

Darwin (+1.3%)

  • Domestic holiday travel and accommodation (+6.5%).
  • Secondary education (+8.3%).
  • Medical and hospital services (+3.9%).
  • Beer (+2.6%).
  • Automotive fuel (-3.5%). 

Darwin recorded an annual rise of 6.2%.

 

Canberra (+1.4%)

  • New dwelling purchase by owner occupiers (+4.5%).
  • Medical and hospital services (+4.9%).
  • Secondary education (+8.1%).
  • Tertiary education (+10.7%).
  • International holiday travel and accommodation (-10.6%).

Canberra recorded an annual rise of 6.2%.

 

Quarterly percentage change by capital city
GroupSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
All groups1.41.21.91.20.91.21.31.41.4
Food & non-alcoholic beverages1.61.32.02.01.62.12.11.41.6
Alcohol & tobacco1.11.01.31.31.51.52.01.81.1
Clothing & footwear-2.7-2.0-3.7-3.8-2.3-1.3-1.9-1.4-2.6
Housing1.91.83.41.51.21.91.02.11.9
Furnishings, household equipment and services-0.7-0.4-0.1-0.7-0.6-0.30.3-0.6-0.5
Health3.53.95.43.33.33.43.94.33.8
Transport1.40.21.00.4-0.1-0.1-0.30.10.6
Communication0.30.10.10.10.10.30.10.30.1
Recreation & culture1.40.00.30.2-1.5-1.00.3-0.20.2
Education3.35.87.45.86.07.26.88.75.3
Insurance & financial services1.81.82.51.52.21.51.30.91.9

Selected tables - capital cities

All groups CPI, index numbers(a)

All groups CPI, Index numbers(a)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
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
2019 March115.1114.7114.1113.1111.2113.4110.1113.2114.1
2018 December115.2114.6114.0113.0111.3113.6111.0113.1114.1
2018 September114.7114.0113.4112.4110.8112.2110.8112.3113.5
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
2021-223.94.05.44.26.05.06.04.84.4
2020-211.51.42.11.51.61.82.02.11.6
2019-201.01.71.21.81.32.40.21.21.3
Percentage change (from corresponding quarter of previous year)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
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
2019 September1.61.71.91.91.62.20.51.81.7
2019 June1.71.31.71.41.62.30.81.71.6
2019 March1.31.21.51.31.12.10.41.81.3
Percentage change (from previous quarter)
PeriodSydneyMelbourneBrisbaneAdelaidePerthHobartDarwinCanberraWeighted average of eight capital cities
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
2019 September0.50.50.60.70.50.50.30.70.5
2019 June0.70.50.60.50.70.60.80.30.6
2019 March-0.10.10.10.1-0.1-0.2-0.80.10.0

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

 
 31 March no.30 June no.30 September no.31 December no.
2023132.6   
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)

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Post-release changes

26 April 2023 - Table 14 in Data Downloads was updated following a correction to seasonal adjustment factors for December 2022 quarter. These corrections only applied to series that are not seasonally adjusted.

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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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