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
January 2023

Key statistics

  • The monthly CPI indicator rose 7.4% in the twelve months to January.
  • The most significant price rises were Housing (+9.8%), Food and non-alcoholic beverages (+8.2%) and Recreation and culture (+10.2%).

What's new this month

Additional data series 

Monthly data series for the Garments sub-group have been added. This sub-group includes monthly updated data for women's and men's clothing.

Main features

Weighted average of eight capital cities - annual

Nov 21 to Nov 22

% change

Dec 21 to Dec 22

% change

Jan 22 to Jan 23

% change

All groups CPI7.38.47.4
Food and non-alcoholic beverages9.49.58.2
     Bread and cereal products12.012.912.6
     Meat & seafood8.18.45.1
     Dairy and related products15.314.414.5
     Fruit & vegetables9.59.85.1
     Food products n.e.c.10.911.911.1
     Non-alcoholic beverages11.09.59.9
Alcohol and tobacco4.34.24.0
Clothing and footwear4.16.33.1
     New dwelling purchases by owner-occupiers17.916.014.7
Furnishings, household equipment and services8.48.56.8
     Automotive fuel16.610.87.5
Recreation and culture5.814.410.2
     Holiday travel and accommodation12.829.317.8
Insurance and financial services4.85.05.1
CPI analytical series   
       Seasonally adjusted7.58.17.2
       All groups CPI excluding volatile items*


*Volatile items are Fruit and vegetables and Automotive fuel

Monthly Overview

The monthly CPI indicator annual movement rose 7.4% in January, down from 8.4% in December.

The annual movement for CPI excluding volatile items (i.e. excludes Fruit and vegetables and Automotive fuel) rose 7.2% in January, down from 8.1% in December. 

*Volatile items are Fruit and vegetables and Automotive fuel

All groups and Groups

Annual inflation remains elevated reflected in the broad-based nature of price increases across all CPI groups over the year.

New dwelling prices drive the increase in housing

New dwelling prices rose 14.7% in the year to January 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 rise further

Rent prices increased further this month from an annual rise of 4.1% in December to 4.8% in January, reflecting low vacancy rates and a tight rental market.

Food and non-alcoholic beverages prices remain elevated

Over the twelve months to January, Food and non-alcoholic beverages rose 8.2%, with price rises seen across all categories. These increases reflect factors including high input costs such as wages, freight and supply disruption.

The main contributors to the rise were Food products n.e.c. (+11.1%), Bread and cereal products (+12.6%) and Dairy and related products (+14.5%).

Fruit and vegetables

Fruit and vegetable prices rose 5.1% in the year to January, down from 9.8% in December.

In monthly terms, Fruit and vegetable prices fell 2.9% in January, reflecting improved supply as the recovery continues from the wet weather events in 2022.

Holiday travel and accommodation

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

Automotive fuel price rises continues to ease

Automotive fuel prices rose 7.5% in the year to January, down from 10.8% in December. While fuel prices remain elevated, the rate of price growth has continued to ease since a peak of 43.2% in the year to June 2022.

Garments prices discounted in January

Garments rose 2.8% in the year to January, following a rise of 7.2% in December 2022. The annual increase is in response to strong consumer demand and higher supply costs such as freight and fuel. 

In monthly terms, Garments fell -5.0%, following larger than usual discounting of summer stock at the start of the year.

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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 ECQuarterly
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 Cleaning & maintenance prod Electricity
Cleaning, repair & hire Personal care products Gas and other household fuels
Rents Other non-dur household prods Cleaning & maintenance prod
New dwelling purchase by owner occupiers  Spare parts & accessories Personal care products
Maintenance & repair of dwelling Automotive fuel Other non-dur household prods
Automotive fuel Maintenance & repair of vehicle Automotive fuel
Furniture Other services in respect of motor vehicle Child care
Carpets & other floor cover Urban transport fares Pharmaceutical products
Household textiles Postal services Therapeutic appliances and equipment
Major household appliances Telecommunications equip & services (partial monthly) Medical & hospital services
Small electronic household appliances Audio,visual & computer equipment     Medical services
Glassware, tableware & household Audio, visual, media & services Dental services
Tools & equipment Domestic holiday travel & accommodation Motor vehicles
Cleaning & maintenance prod International holiday travel & accommodation Postal services
Personal care products Equipment for sports,camp Telecommunications equip & services (partial monthly)
Other non-durable household prods Games, toys and hobbies Audio,visual & computer equipment
Medical & hospital services Pets and related products Books
    Private Health insurance (Annual, plus irregular changes) Hairdressing & personal grooming Newspaper magazine & stationery
Postal services Other household services Domestic holiday travel & accommodation
Telecommunications equip & services (partial monthly) Sports participation International holiday travel & accommodation
Audio,visual & computer equipment Other recreational sports & cultural services Pets and related products
Domestic holiday travel & accommodation Preschool & primary education (quarterly & Annual) Vet & other pet services
International holiday travel & accommodation Secondary education (Annual) Sports participation
Pets and related products Tertiary education (bi-annual) Preschool & primary education (quarterly & Annual)
D&L Facilities (direct) Insurance D&L Facilities (direct)
  D&L Facilities (direct) Other financial services



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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