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
June 2023

Key statistics

  • The monthly CPI indicator rose 5.4% in the twelve months to June.

  • The most significant price rises were Housing (+7.4%), Food and non-alcoholic beverages (+7.0%) and Recreation and culture (+6.8%).

  • Offsetting the rise was Automotive fuel (-10.6%).

What's new this month

The Gas series in the monthly CPI indicator has been updated with monthly prices from October 2021 onwards. No changes have been made to the Gas series prior to October 2021. Gas 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 Gas series has resulted in revisions to the monthly CPI indicator dating back to October 2021. The revisions are consistent with advice provided by the ABS, noting '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 Gas series will be used to compile the Gas series in the quarterly CPI from the June quarter 2023 onwards. There will be no revisions to the quarterly CPI.

Partial update of CPI weights

The weights for the monthly CPI indicator are typically updated each year in October. This is to ensure the weights used in the CPI basket reflect contemporary household spending patterns. With the continued increase in Australians holidaying overseas, a partial update to the CPI weights will be implemented in July 2023. The partial update will see the weight for International holiday travel increase, with the weight for the other components in the basket adjusted to offset the increase in travel weights. The updated weights will be published as part of the July Monthly CPI indicator release on 30 August 2023. A comprehensive update to the weights for monthly CPI indicator will be implemented in January 2024. The weights will continue to be updated in January in future years.

Main features

Weighted average of eight capital cities, annual movement
 Apr 22 to Apr 23 % changeMay 22 to May 23 % changeJun 22 to Jun 23 % change
All groups monthly CPI6.7ᴿ5.5ᴿ5.4
Food and non-alcoholic beverages7.97.97.0
     Bread and cereal products11.412.810.9
     Meat & seafood4.43.82.7
     Dairy and related products14.515.115.0
     Fruit & vegetables3.52.71.0
     Food products n.e.c.11.711.510.5
     Non-alcoholic beverages9.79.26.8
Alcohol and tobacco4.84.74.6
Clothing and footwear2.0-0.4-0.7
     New dwelling purchases by owner-occupiers9.28.36.6
     Gas and other household fuels26.3ᴿ27.2ᴿ22.2
Furnishings, household equipment and services6.36.06.3
     Automotive fuel9.5-8.0-10.6
Recreation and culture6.43.56.8
     Holiday travel and accommodation11.97.312.9
Insurance and financial services6.77.88.5
CPI analytical series   
       Seasonally adjusted6.95.95.5
       CPI excluding volatile items** and holiday travel6.56.46.1
       Annual Trimmed mean6.76.16.0
  • ᴿ = Revised
  • * = Measured quarterly
  • ** = Volatile items are Fruit and vegetables and Automotive fuel

Monthly Overview

The monthly CPI indicator rose 5.4% in the twelve months to June, slightly lower than the rise of 5.5% in May.

The annual movement for the monthly CPI excluding volatile items and travel rose 6.1% in June, down from the rise of 6.4% in May. This series excludes Fruit and vegetables, Automotive fuel, and Holiday travel and accommodation.

Annual trimmed mean inflation was 6.0% in June, slightly lower than the rise of 6.1% in May.

*Volatile items are Fruit and vegetables and Automotive fuel

New dwellings and Rents

New dwellings prices continue to ease while Rents recorded its largest rise since the start of the monthly series.

New dwelling prices rose 6.6% in the twelve months to June, reflecting high labour and material costs. The rate of price growth has continued to ease reflecting a softening in new demand and improvements in the supply of materials.

Rent prices increased 7.3% in the twelve months to June 2023, up from 6.3% in May, reflecting strong demand for rental properties and tight rental markets.

Electricity and Gas

Electricity prices rose 10.2% in the year to June. This reflects annual price reviews in July 2022. The full impacts of electricity price rises in July 2022 took some time to flow through to households' electricity bills due to electricity rebates in Western Australia, Queensland, the Australian Capital Territory and Tasmania.

Gas prices rose 22.2% in the year to June, due to higher wholesale gas prices following price reviews in July 2022 and January 2023.

Food and non-alcoholic beverages

Annual prices for Food and non-alcoholic beverages rose 7.0%, with price rises seen across all food categories.

The main contributor was Food products n.e.c., which rose 10.5% due to price rises for snacks and confectionary products and edible oils. Bread and cereal products rose 10.9% and Dairy and related products rose 15.0%.

In monthly terms, price falls were observed in June for Meat and seafood (-1.0%), Non-alcoholic beverages (-2.0%) and Bread and cereal products (-0.5%).

Automotive fuel

Automotive fuel prices fell 10.6% in the twelve months to June, this follows a fall of 8.0% in May. This is the strongest fall in prices since January 2021, reflecting lower global oil prices.

In monthly terms, Automotive fuel prices rose 3.8% in June.

Holiday travel and accommodation

Holiday travel and accommodation rose 12.9% in the twelve months to June, up from 7.3% in May. Demand and prices remain elevated for both Domestic and International holiday travel and accommodation. However, prices have eased since peaking in December 2022.

In monthly terms, Holiday travel and accommodation prices rose 10.9%, driven by Domestic holiday travel and accommodation. This reflects strong demand in June in the lead up to the beginning of the school holiday period.

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Detailed monthly data

Monthly Expenditure class data

 Monthly % Change Annual % Change  
Index nameApr 23May 23June 23 June 22 to June 23 Frequency
Bread2.93.50.1 14.5 Monthly
Cakes and biscuits1.90.2-1.0 8.8 Monthly
Breakfast cereals-2.63.8-0.4 8.3 Monthly
Other cereal products0.2-0.3-0.5 8.5 Monthly
Beef and veal-0.4-0.8-1.3 -2.7 Monthly
Pork-0.80.1-0.8 3.6 Monthly
Lamb and goat1.20.2-1.8 -3.6 Monthly
Poultry1.01.1-0.7 8.0 Monthly
Other meats-0.60.5-0.7 3.5 Monthly
Fish and other seafood1.11.3-1.0 7.5 Monthly
Milk-0.9-0.10.4 14.1 Monthly
Cheese- 17.3 Monthly
Ice cream & other dairy products2.3-0.50.5 14.0 Monthly
Fruit- 10.5 Monthly
Vegetables1.62.1-2.1 -5.4 Monthly
Eggs0.00.60.9 8.5 Monthly
Jams, honey & spreads- 5.8 Monthly
Food additives & condiments0.40.10.0 7.5 Monthly
Oils and fats0.20.3-0.2 12.6 Monthly
Snacks and confectionery0.2-0.40.7 10.8 Monthly
Other food products n.e.c. 1.2-0.80.1 12.4 Monthly
Coffee, tea and cocoa0.8-1.0-0.2 6.6 Monthly
Waters soft drinks & juices2.40.2-2.6 6.8 Monthly
Restaurant meals imp1.0imp 6.5 Quarterly
Takeaway and fast foods imp2.7imp 9.2 Quarterly
Spirits-0.30.0-0.2 10.2 Monthly
Wine-0.6-0.10.0 0.8 Monthly**
Beer0.30.3-0.2 6.5 Monthly
Tobacco0.7-0.2-0.2 3.8 Monthly
Garments for men1.7-2.4-2.8 4.3 Monthly**
Garments for women3.7-4.5-4.2 -6.1 Monthly**
Garments for infant & child7.9impimp 7.0 Quarterly
Footwear for men-1.6impimp -0.3 Quarterly
Footwear for women2.6impimp -1.5 Quarterly
Footwear for infant & child1.6impimp -0.8 Quarterly
Accessories-2.2impimp 0.0 Quarterly
Cleaning, repair & hire1.5impimp 6.1 Quarterly
Rents0.80.80.9 7.3 Monthly**
New dwelling purchase by owner occupiers0.50.40.2 6.6 Monthly**
Maintenance & repair of dwelling 0.8impimp 5.7 Quarterly
Property rates and chargesimpimp0.0 3.6 Quarterly***
Water and sewerageimpimp1.0 2.4 Quarterly
Electricity-0.9-0.8-0.9 10.2 Monthly
Gas and other household fuels ᴿ0.0-2.1-0.8 22.2 Monthly
Furniture4.9impimp 6.9 Quarterly
Carpets & other floor cover0.7impimp 10.3 Quarterly
Household textiles9.5impimp 4.3 Quarterly
Major household appliances-0.4impimp -1.4 Quarterly
Small electronic household appliances1.0impimp -1.1 Quarterly
Glassware, tableware & household1.6impimp 4.1 Quarterly
Tools & equipment1.3impimp 4.2 Quarterly
Cleaning & maintenance products-0.20.8-0.4 9.0 Monthly
Personal care products0.00.30.0 6.9 Monthly
Other non-durable household products-0.20.6-0.5 6.4 Monthly
Child careimpimp1.5 9.5 Quarterly
Hairdressing & personal groomingimp2.2imp 7.1 Quarterly
Other household servicesimp-0.5imp 6.6 Quarterly
Pharmaceutical productsimpimp-1.0 1.5 Quarterly
Therapeutic appliances and equipmentimpimp0.2 1.4 Quarterly
Medical & hospital services0.2imp0.4 6.4 Quarterly***
Dental servicesimpimp0.6 3.6 Quarterly
Motor vehiclesimpimp-0.6 4.0 Quarterly
Spare parts & accessories imp2.5imp 11.6 Quarterly
Automotive fuel2.9-6.73.8 -10.6 Monthly
Maintenance & repair of vehicleimp0.5imp 4.2 Quarterly
Other services in respect of motor vehicleimp0.2imp 2.7 Quarterly
Urban transport faresimp0.0imp 8.0 Quarterly
Postal services-0.91.3-0.3 8.7 Monthly
Telecommunications equip & services-0.70.8-1.1 0.2 Quarterly*
Audio, visual & computer equipment- 1.5 Quarterly*
Audio, visual, media & servicesimp0.5imp 4.0 Quarterly
Booksimpimp0.1 0.6 Quarterly
Newspaper magazine & stationeryimpimp2.0 9.3 Quarterly
Domestic holiday travel & accommodation6.1-15.56.0 11.2 Monthly
International holiday travel & accommodation8.6-4.717.7 23.9 Monthly
Equipment for sports, camping & recreation imp-0.2imp 5.0 Quarterly
Games, toys and hobbiesimp-0.2imp 3.4 Quarterly
Pets and related products-0.8-0.63.2 11.0 Monthly
Veterinary and other services for pets impimp2.1 7.7 Quarterly
Sports participationimp1.71.6 5.3 Quarterly
Other recreational sports & cultural servicesimp1.7imp 2.0 Quarterly
Preschool & primary educationimp0.0-1.2 -1.4 Quarterly***
Secondary education imp0.0imp 4.9 Quarterly***
Tertiary education imp0.0imp 9.6 Quarterly***
Insuranceimp5.3imp 14.2 Quarterly
D&L Facilities 1.7 Monthly
Other financial servicesimpimp2.6 7.7 Quarterly
  • Imp = Imputed. Quarterly index, not collected in that month.
  • *Some components measured monthly.
  • **Some components measured quarterly.
  • *** Measured quarterly and/or typically changes once per year.
  • ᴿ = Revise in April and May


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.

Table 1. 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
Electricity Gas and other household fuels Gas and other household fuels
Gas and other household fuels Cleaning & maintenance prod Cleaning & maintenance prod
Cleaning, repair & hire Personal care products Personal care products
Rents Other non-dur household prods Other non-dur household prods
New dwelling purchase by owner occupiers Hairdressing & personal grooming Child care
Maintenance & repair of dwelling Other household services Pharmaceutical products
Electricity Spare parts & accessories Therapeutic appliances and equipment
Furniture Automotive fuel Medical & hospital services
Carpets & other floor cover Maintenance & repair of vehicle     Medical services
Household textiles Other services in respect of motor vehicle Dental services
Major household appliances Urban transport fares Motor vehicles
Small electronic household appliances Postal services Automotive fuel
Glassware, tableware & household Telecommunications equip & services (partial monthly) Postal services
Tools & equipment Audio,visual & computer equipment Telecommunications equip & services (partial monthly)
Cleaning & maintenance prod Audio, visual, media & services Audio,visual & computer equipment
Personal care products Domestic holiday travel & accommodation Books
Other non-durable household prods International holiday travel & accommodation Newspaper magazine & stationery
Medical & hospital services Equipment for sports,camp Domestic holiday travel & accommodation
    Private Health insurance (annual, plus irregular changes) Games, toys and hobbies International holiday travel & accommodation
Automotive fuel Pets and related products Pets and related products
Postal services Sports participation Vet & other pet services
Telecommunications equip & services (partial monthly) Other recreational sports & cultural services Sports participation
Audio,visual & computer equipment Preschool & primary education (quarterly & annual) Preschool & primary education (quarterly & annual)
Domestic holiday travel & accommodation Secondary education (annual) D&L Facilities (direct)
International holiday travel & accommodation Tertiary education (bi-annual) Other financial services
Pets and related products Insurance  
D&L Facilities (direct) D&L Facilities (direct)  

* n.e.c Not elsewhere classified

Introducing monthly indicators of underlying inflation

The December 2022 release of the monthly CPI indicator stated

"The release of the monthly CPI indicator includes a Trimmed mean series which was intended to provide additional analytical insights into inflation on a monthly basis. The ABS has identified that the Trimmed mean series is not, however, providing a reliable indicator for the principal measure of trimmed mean inflation published in the quarterly CPI publication. The ABS will suspend the publication of the monthly Trimmed mean series while we investigate."

Since this decision the ABS has investigated the monthly trimmed mean measure and assessed alternative measures of underlying inflation.

Investigation of monthly Trimmed mean

The investigation found there was a downward bias in the monthly Trimmed mean when compared to the quarterly Trimmed mean, which is considered the principal measure of underlying inflation. The bias was evident during a period of rising inflation caused by the use of carry forward imputation for some monthly data. Details on the carry forward imputation approach are provided in Introducing a monthly CPI indicator. Carry forward imputation is not used in the quarterly CPI and therefore does not affect the quarterly Trimmed mean.

Alternative measures of underlying inflation

The ABS assessed variations of established measures of underlying inflation. Two alternatives were found to be a reasonable indicator of annual movements of the quarterly Trimmed mean:

  1. Annual trimmed mean. This measure uses a similar method to the quarterly trimmed mean. The key difference is rather than use the quarterly movements in the trimming process, the annual movements are used. In this case, each month the annual movements of the 87 CPI series are ranked from lowest to highest. The top and bottom 15% of annual movements are removed, with the average is taken from the middle 70% of annual movements. For more details on the Trimmed mean method see Underlying Inflation Measures: Explaining the Trimmed Mean.
  2. CPI excluding volatile items and holiday travel. CPI exclusion based measures are used by many countries to provide different insights into CPI inflation by removing the effects of certain items. Typically, the price change for these items tend to be volatile and often not reflective of the underlying inflationary trends. This new measure builds on the existing 'CPI excluding volatile items' series and also excludes holiday travel. Volatile items are fruit, vegetables and automotive fuel. 

For holiday travel, it has been shown that events such as Christmas and Easter, as well as school holidays, have a significant impact on airfare and accommodation prices. This sees monthly movements for holiday travel as quite volatile. By calculating a series that excludes the monthly movements of holiday travel and the other volatile items, the monthly movements at the aggregate CPI level provide a reasonable insight of underlying inflation.


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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