Monthly Consumer Price Index Indicator

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The monthly CPI indicator is a measure of inflation and includes statistics about prices for categories of households expenditure

Reference period
February 2023

Key statistics

  • The monthly CPI indicator rose 6.8% in the twelve months to February.
  • The most significant price rises were Housing (+9.9%), Food and non-alcoholic beverages (+8.0%) and Transport (+5.6%).

What's new this month

Additional data series 

The Electricity series in the monthly CPI indicator has been updated with monthly prices from October 2021 onwards. No changes have been made to the Electricity series prior to October 2021. Electricity prices for periods prior to October 2021 are updated quarterly in month 3 with carry forward imputation used in the months where prices were not updated.

The inclusion of this new monthly Electricity series has resulted in revisions to the monthly CPI indicator dating back to October 2021. The revision is consistent with advice provided by the ABS, ‘it should be noted that the monthly CPI indicator may be routinely subject to revision, in contrast to the quarterly CPI which is only revised in exceptional circumstances’.

The new monthly Electricity series will be used to compile the Electricity series in the quarterly CPI from the March quarter 2023 onwards. There will be no revisions to the quarterly CPI.

Main features

Weighted average of eight capital cities, annual movement

Dec 21 to Dec 22

% change

Jan 22 to Jan 23

% change

Feb 22 to Feb 23

% change

All groups CPI8.47.46.8
Food and non-alcoholic beverages9.58.28.0
     Bread and cereal products12.912.612.5
     Meat & seafood8.45.13.3
     Dairy and related products14.414.514.3
     Fruit & vegetables9.85.15.8
     Food products n.e.c.11.911.111.8
     Non-alcoholic beverages9.59.96.6
Alcohol and tobacco4.24.04.3
Clothing and footwear6.33.13.7
     New dwelling purchases by owner-occupiers16.014.713.0
Furnishings, household equipment and services8.56.86.6
     Automotive fuel10.87.55.6
Recreation and culture14.410.26.4
     Holiday travel and accommodation29.317.814.9
Insurance and financial services5.05.15.6
CPI analytical series   
       Seasonally adjusted8.27.37.1
       All groups CPI excluding volatile items*


*Volatile items are Fruit and vegetables and Automotive fuel

Monthly Overview

The monthly CPI indicator annual movement rose 6.8% in February, down from 7.4% in January.

The annual movement for CPI excluding volatile items rose 6.9%, down from 7.5% in January. This series excludes Fruit and vegetables and Automotive fuel.

*Volatile items are Fruit and vegetables and Automotive fuel

New dwelling prices drive the increase in housing

New dwelling prices rose 13.0% in the year to February as builders passed through higher costs for labour and materials. Fewer grant payments from the Federal Government's HomeBuilder program and similar state-based housing construction grants also contributed to the rise in new dwelling prices over the year.

The rate of price growth has continued to ease compared to the record high increase of 21.7% in July 2022. This reflects a softening in new demand and improvements in the supply of materials.

Rent prices remain high

Rent prices increased 4.8% in the year to February, reflecting low vacancy rates and a tight rental market.

Electricity prices rise further

Electricity prices rose 17.2% over the twelve months to February. The full impact of annual price reviews in July 2022 took time to flow through to many households as electricity rebates have reduced electricity bills in Western Australia, ACT, Queensland and Tasmania between July and December 2022. On a monthly basis, electricity prices were flat in February.

Food and non-alcoholic beverages

Over the twelve months to February, Food and non-alcoholic beverages rose 8.0%, with price rises seen across all categories. These increases reflect price pressures from higher input costs such as wages, freight, and supply disruptions.

The main contributors were broad based with price rises in restaurant and takeaway meals and groceries.

*Quarterly index, price updated in Feb (month 2) – more information

Meat and seafoods and Fruit and vegetables

Meat and seafood prices rose 3.3% over the year to February, down from the 5.1% annual rise in January. While high input costs continue to put upward pressure on prices, increases in production has seen the annual price ease from the December 2022 peak of 8.4%.

Annually, Fruit and vegetable prices rose 5.8% in February, up from 5.1% in January. Prices continue to be impacted by produce shortages caused by floods in key growing areas in 2022, alongside higher transport and input costs.

Holiday travel and accommodation

Holiday travel and accommodation rose 14.9% in the year to February, down from 17.8% in January. High demand continues to impact prices for both Domestic and International holiday travel and accommodation despite prices easing from the 29.3% annual rise in December.

Automotive fuel prices ease further

Automotive fuel prices rose 5.6% in the year to February, down from 7.5% in January. Fuel prices have eased in recent months with the annual movement falling since increasing by 43.2% in the 12 months to June 2022.

Education price rise highest in five years

Education prices rose 5.6% in the year to February, the highest rise in five years. Tertiary education prices rose due to higher indexation than previous years and the changes to course fees from the Job-ready Graduate package that commenced in 2021. The passing on of higher wages and other costs saw price rises for primary and secondary school. Preschool prices fell in New South Wales, Victoria, and Queensland due to government fee-relief programs for preschool and kindergarten in these states.

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Data explorer for the monthly CPI indicator.

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Annual weight update



weight (%)


weight (%)



Food and non-alcoholic beverages group17.1816.760.42
   Cakes and biscuits0.600.61-0.01
   Breakfast cereals0.110.12-0.01
   Other cereal products0.180.170.01
   Beef and veal0.530.54-0.01
   Lamb and goat0.290.31-0.02
   Other meats0.380.39-0.01
   Fish and other seafood0.400.44-0.04
   Ice cream and other dairy0.290.290.00
   Jams, honey and spreads0.120.13-0.01
   Food additives & condiments0.310.300.01
   Oils and fats0.220.200.02
   Snacks and confectionery0.830.84-0.01
   Other food products0.490.51-0.02
   Coffee, tea and cocoa0.260.240.02
   Waters soft drinks and juices0.890.860.03
   Restaurant meals3.963.420.54
   Takeaway and fast foods2.852.93-0.08
Alcohol and tobacco group7.879.01-1.14
Clothing and footwear group3.373.330.04
   Garments for men0.530.54-0.01
   Garments for women1.131.130.00
   Garments for children0.320.320.00
   Footwear for men0.120.120.00
   Footwear for women0.290.290.00
   Footwear for children0.070.08-0.01
   Cleaning, repair and hire0.070.11-0.04
Housing group22.2423.24-1.00
   New dwelling purchase8.628.67-0.05
   Maintenance and repair of dwelling2.242.29-0.05
   Property rates and charges1.551.61-0.06
   Water and sewerage0.880.95-0.07
   Gas and other household fuels0.980.970.01
Furnishings, household equipment & services group8.949.16-0.22
   Carpets and other floor cover0.320.34-0.02
   Household textiles0.510.500.01
   Major household appliances0.430.44-0.01
   Small electrical appliances0.320.33-0.01
   Glassware and tableware0.410.42-0.01
   Tools and equipment0.400.41-0.01
   Cleaning and maintenance products0.230.230.00
   Personal care products0.890.890.00
   Other non-durable products1.311.260.05
   Child care0.820.91-0.09
   Hairdressing services1.081.060.02
   Other household services0.680.74-0.06
Health group6.256.47-0.22
   Pharmaceutical products1.041.09-0.05
   Therapeutic equipment0.160.160.00
   Medical and hospital services4.454.56-0.11
   Dental services0.600.66-0.06
Transport group10.9910.580.41
   Motor vehicles3.043.06-0.02
   Spare parts and accessories0.770.700.07
   Automotive fuel3.613.280.33
   Maintenance and repair of vehicle1.871.780.09
   Other motor vehicle services1.351.40-0.05
   Urban transport fares0.350.36-0.01
Communication group2.312.41-0.10
   Postal services0.100.11-0.01
Recreation and culture group10.848.642.20
   Audio, visual and computer equipment1.281.35-0.07
   Audio, visual and media services0.670.70-0.03
   Newspapers, magazines and stationery0.370.40-0.03
   Domestic holiday travel2.431.950.48
   International holiday travel1.850.081.77
   Equipment for sports and camping0.610.70-0.09
   Games, toys and hobbies0.640.69-0.05
   Pets and related products0.530.500.03
   Vet and other pet services0.510.440.07
   Sports participation0.900.750.15
   Other recreational services0.890.90-0.01
Education group4.434.63-0.2
   Preschool and primary education0.950.99-0.04
   Secondary education1.912.01-0.10
   Tertiary education1.571.63-0.06
Insurance and financial services group5.565.80-0.24
   Bank fees (direct)0.400.46-0.06
   Other financial services4.004.11-0.11

About the monthly CPI indicator

What is the monthly CPI Indicator?

The monthly Consumer Price Index (CPI) indicator was developed to provide inflation data at a higher frequency for use by governments, economists and the wider community. The quarterly CPI remains the principal measure of household inflation.

Monthly CPI Indicator coverage

The monthly CPI indicator is derived using available data from the quarterly CPI. The ABS collects prices for the CPI in a range of frequencies including monthly, quarterly, and annual. The frequency of price collection is determined by how often prices change. Where price change occurs frequently, such as for food and petrol, monthly price data is collected. Where price change is less frequent, such as for restaurant meals and hairdressers, price data is available quarterly. In some cases, prices are collected once per year where it is known prices only change annually. This is the case for some education fees, property rates and private health insurance.

For this reason, the composition of the monthly CPI basket varies across the three months of the quarter, details of the monthly coverage composition are detailed in Table 1 below.

Expenditure Class (EC) coverage
Expenditure Class (EC)Frequency
Bread ECMonthly
Cakes and biscuits ECMonthly
Breakfast cereals ECMonthly
Other cereal products EC Monthly
Beef and veal ECMonthly
Pork ECMonthly
Lamb and goat ECMonthly
Poultry ECMonthly
Other meats ECMonthly
Fish and other seafood EC Monthly
Milk ECMonthly
Cheese ECMonthly
Ice cream & other dairy products  ECMonthly
Fruit ECMonthly
Vegetables ECMonthly
Eggs ECMonthly
Jams, honey and spreads ECMonthly
Food additives and condiments ECMonthly
Oils and fats ECMonthly
Snacks and confectionery ECMonthly
Other food products n.e.c.* ECMonthly
Coffee, tea and cocoa ECMonthly
Waters soft drinks & juices ECMonthly
Restaurant meals ECQuarterly
Takeaway and fast foods ECQuarterly
Spirits ECMonthly
Wine ECMonthly
Beer  ECMonthly
Tobacco ECMonthly
Garments for men ECMonthly
Garments for women ECMonthly
Garments for infant and child ECQuarterly
Footwear for men ECQuarterly
Footwear for women ECQuarterly
Footwear for infant & child ECQuarterly
Accessories ECQuarterly
Cleaning, repair and hire ECQuarterly
Rents ECMonthly
New dwell purchase by own occupied ECMonthly
Maintenance and repair of dwelling ECQuarterly
Property rates and charges ECAnnual
Water and sewerage ECQuarterly
Electricity ECMonthly
Gas and other household fuels ECQuarterly
Furniture ECQuarterly
Carpets and other floor cover ECQuarterly
Household textiles ECQuarterly
Major household appliances ECQuarterly
Small electrical and household appliances ECQuarterly
Glassware,tableware and household ECQuarterly
Tools and equipment ECQuarterly
Cleaning and maintenance prod ECMonthly
Personal care products ECMonthly
Other non-durable household products ECMonthly
Child care ECQuarterly
Hairdressing and personal grooming services ECQuarterly
Other household services ECQuarterly
Pharmaceutical products ECQuarterly
Therapeutic app and equip ECQuarterly
Medical & hospital services EC 
    Medical servicesQuarterly
    Private health insuranceAnnual (plus any irregular changes)
Dental services EC Quarterly
Motor vehicles EC Quarterly
Spare parts and accessories ECQuarterly
Automotive fuel ECMonthly
Maintenance and repair of vehicle ECQuarterly
Other services in respect of motor vehicle EC Quarterly
Urban transport fares ECQuarterly
Postal services ECMonthly
Telecom equip & services ECQuarterly
Audio,visual & comp equip ECQuarterly
Audio, visual, media&serv ECQuarterly
Books ECQuarterly
Newspaper magazine and station ECQuarterly
Domestic holiday travel & accommodation ECMonthly
Intern holiday travel & accommodation ECMonthly
Equipment for sports,camp ECQuarterly
Games, toys and hobbies ECQuarterly
Pets and related products ECMonthly
Vet & other pet services ECQuarterly
Sports participation ECQuarterly
Other recreational sports & cultural services ECQuarterly
Preschool&primary education ECQuarterly & Annual
Secondary education ECAnnual
Tertiary education ECBi-annual
Insurance ECQuarterly
D&L Facilities (direct) ECMonthly
Other financial services ECQuarterly


* n.e.c Not elsewhere classified

What's price updated - monthly breakdown

Month 1 Month 2 Month 3
Bread Bread Bread
Cakes and biscuits Cakes and biscuits Cakes and biscuits
Breakfast cereals Breakfast cereals Breakfast cereals
Other cereal products Other cereal products Other cereal products
Beef and veal Beef and veal Beef and veal
Pork Pork Pork
Lamb and goat Lamb and goat Lamb and goat
Poultry Poultry Poultry
Other meats Other meats Other meats
Fish and other seafood Fish and other seafood Fish and other seafood
Milk Milk Milk
Cheese Cheese Cheese
Ice cream & other dairy prod Ice cream & other dairy prod Ice cream & other dairy prod
Fruit Fruit Fruit
Vegetables Vegetables Vegetables
Eggs Eggs Eggs
Jams, honey & spreads Jams, honey & spreads Jams, honey & spreads
Food additives & condiments Food additives & condiments Food additives & condiments
Oils and fats Oils and fats Oils and fats
Snacks and confectionery Snacks and confectionery Snacks and confectionery
Other food products n.e.c. Other food products n.e.c. Other food products n.e.c.
Coffee, tea and cocoa Coffee, tea and cocoa Coffee, tea and cocoa
Waters soft drinks & juices Waters soft drinks & juices Waters soft drinks & juices
Spirits Restaurant meals Spirits
Wine Takeaway and fast foods Wine
Beer Spirits Beer
Tobacco Wine Tobacco 
Garments for men Beer Garments for men
Garments for women Tobacco Garments for women
Garments for infant & child Garments for men Rents
Footwear for men Garments for women New dwelling purchase by owner occupiers
Footwear for women Rents Property rates and charges (annual)
Footwear for infant & child New dwelling purchase by owner occupiers Water and sewerage
Accessories Electricity Electricity
Cleaning, repair & hire Cleaning & maintenance prod Gas and other household fuels
Rents Personal care products Cleaning & maintenance prod
New dwelling purchase by owner occupiers Other non-dur household prods Personal care products
Maintenance & repair of dwelling Hairdressing & personal grooming Other non-dur household prods
Electricity Other household services Child care
Furniture Spare parts & accessories Pharmaceutical products
Carpets & other floor cover Automotive fuel Therapeutic appliances and equipment
Household textiles Maintenance & repair of vehicle Medical & hospital services
Major household appliances Other services in respect of motor vehicle     Medical services
Small electronic household appliances Urban transport fares Dental services
Glassware, tableware & household Postal services Motor vehicles
Tools & equipment Telecommunications equip & services (partial monthly) Automotive fuel
Cleaning & maintenance prod Audio,visual & computer equipment Postal services
Personal care products Audio, visual, media & services Telecommunications equip & services (partial monthly)
Other non-durable household prods Domestic holiday travel & accommodation Audio,visual & computer equipment
Medical & hospital services International holiday travel & accommodation Books
    Private Health insurance (annual, plus irregular changes) Equipment for sports,camp Newspaper magazine & stationery
Automotive fuel Games, toys and hobbies Domestic holiday travel & accommodation
Postal services Pets and related products International holiday travel & accommodation
Telecommunications equip & services (partial monthly) Sports participation Pets and related products
Audio,visual & computer equipment Other recreational sports & cultural services Vet & other pet services
Domestic holiday travel & accommodation Preschool & primary education (quarterly & annual) Sports participation
International holiday travel & accommodation Secondary education (annual) Preschool & primary education (quarterly & annual)
Pets and related products Tertiary education (bi-annual) D&L Facilities (direct)
D&L Facilities (direct) Insurance Other financial services
  D&L Facilities (direct)  



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 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. 

Consistent with existing policy, the ABS does not comment on the use (or otherwise) of the price indexes we publish. However, it should be noted that the monthly CPI indicator may be routinely subject to revision, in contrast to the quarterly CPI which is only revised in exceptional circumstances.

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

Frequently Asked Questions (FAQs) specific to the monthly CPI indicator can be found in the Information paper: Introducing a monthly CPI indicator for Australia FAQs 

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

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