Monthly Consumer Price Index Indicator

Latest release

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

Reference period

May 2025

Released

25/06/2025

Key statistics

The monthly CPI indicator rose 2.1% in the 12 months to May.
The largest contributors to the annual movement were Food and non-alcoholic beverages (+2.9%), Housing (+2.0%), and Alcohol and tobacco (+5.9%).

Main features

Weighted average of eight capital cities, annual movement
		Mar 24 to Mar 25 % change	Apr 24 to Apr 25 % change	May 24 to May 25 % change
All groups monthly CPI		2.4	2.4	2.1
Food and non-alcoholic beverages		3.4	3.1	2.9
	Bread and cereal products	2.5	2.6	2.0
	Meat and seafood	3.7	2.5	3.1
	Dairy and related products	0.1	0.1	0.1
	Fruit and vegetables	7.6	6.1	2.8
	Food products n.e.c.	3.3	3.6	3.7
	Non-alcoholic beverages	4.0	3.9	5.2
Alcohol and tobacco		6.7	5.7	5.9
	Alcohol	4.2	2.9	3.3
	Tobacco	12.2	12.0	11.5
Clothing and footwear		0.7	0.8	1.3
	Garments	-1.4	0.3	1.1
Housing		1.8	2.2	2.0
	Rents	5.2	5.0	4.5
	New dwelling purchases by owner-occupiers	1.0	1.2	0.8
	Electricity	-9.6	-6.5	-5.9
	Gas and other household fuels	6.4	6.3	6.5
Furnishings, household equipment and services		0.6	1.0	0.9
Health		4.0	4.4	4.4
Transport		-1.9	-3.2	-2.5
	Automotive fuel	-7.6	-12.0	-10.0
Communications		0.2	0.7	1.0
Recreation and culture		2.7	3.6	1.4
	Holiday travel and accommodation	3.9	5.3	0.6
Education		5.7	5.7	5.7
Insurance and financial services		3.9	4.0	3.1
CPI analytical series
	Seasonally adjusted	2.4	2.4	2.1
	CPI excluding volatile items* and holiday travel	2.6	2.8	2.7
	Annual trimmed mean	2.7	2.8	2.4

* = Volatile items are Fruit and vegetables and Automotive fuel

Monthly overview

The monthly CPI indicator rose 2.1% in the 12 months to May, following a 2.4% rise in the 12 months to April.

The monthly CPI indicator excluding volatile items and holiday travel rose 2.7% in the 12 months to May following a 2.8% rise in the 12 months to April. This series excludes Automotive fuel, Fruit and vegetables, and Holiday travel and accommodation.

The annual trimmed mean is an alternative measure of underlying inflation that reduces the impact of irregular or temporary price changes. Annual trimmed mean inflation, which this month excluded the annual falls in Automotive fuel and Electricity, alongside other large price rises and falls, was 2.4% in May, down from 2.8% in April.

All groups monthly CPI indicator, Australia, annual movement (%)
	Monthly CPI indicator (%)	Monthly CPI excluding volatile items* & holiday travel (%)	Annual trimmed mean (%)
May-21	3.3	3.0	1.5
Jun-21	3.5	3.4	1.5
Jul-21	2.1	2.1	1.6
Aug-21	2.5	2.6	2.0
Sep-21	3.1	2.5	2.3
Oct-21	3.0	2.0	2.3
Nov-21	3.2	2.2	2.3
Dec-21	3.5	2.9	2.7
Jan-22	4.0	3.1	3.1
Feb-22	4.9	4.1	3.4
Mar-22	5.7	4.4	3.7
Apr-22	5.5	4.9	4.0
May-22	6.1	5.2	4.3
Jun-22	6.8	5.5	4.5
Jul-22	7.2	6.2	5.4
Aug-22	7.2	6.6	5.9
Sep-22	7.2	6.6	6.1
Oct-22	7.0	7.0	6.1
Nov-22	7.4	7.1	6.6
Dec-22	8.4	7.2	7.2
Jan-23	7.5	6.9	6.5
Feb-23	6.8	6.8	6.5
Mar-23	6.3	6.9	6.5
Apr-23	6.7	6.5	6.7
May-23	5.5	6.4	6.1
Jun-23	5.4	6.1	6.0
Jul-23	4.9	5.8	5.6
Aug-23	5.2	5.5	5.6
Sep-23	5.6	5.5	5.4
Oct-23	4.9	5.1	5.3
Nov-23	4.3	4.8	4.6
Dec-23	3.4	4.2	4.0
Jan-24	3.4	4.1	3.8
Feb-24	3.4	3.9	3.9
Mar-24	3.5	4.1	4.0
Apr-24	3.6	4.1	4.1
May-24	4.0	4.0	4.4
Jun-24	3.8	4.0	4.1
Jul-24	3.5	3.7	3.8
Aug-24	2.7	3.0	3.4
Sep-24	2.1	2.7	3.2
Oct-24	2.1	2.4	3.5
Nov-24	2.3	2.8	3.2
Dec-24	2.5	2.7	2.7
Jan-25	2.5	2.9	2.8
Feb-25	2.4	2.7	2.7
Mar-25	2.4	2.6	2.7
Apr-25	2.4	2.8	2.8
May-25	2.1	2.7	2.4

All groups monthly CPI indicator, Australia, annual movement (%)

["","Monthly CPI indicator","Monthly CPI excluding volatile items* & holiday travel","Annual trimmed mean"]

[["May-21","Jun-21","Jul-21","Aug-21","Sep-21","Oct-21","Nov-21","Dec-21","Jan-22","Feb-22","Mar-22","Apr-22","May-22","Jun-22","Jul-22","Aug-22","Sep-22","Oct-22","Nov-22","Dec-22","Jan-23","Feb-23","Mar-23","Apr-23","May-23","Jun-23","Jul-23","Aug-23","Sep-23","Oct-23","Nov-23","Dec-23","Jan-24","Feb-24","Mar-24","Apr-24","May-24","Jun-24","Jul-24","Aug-24","Sep-24","Oct-24","Nov-24","Dec-24","Jan-25","Feb-25","Mar-25","Apr-25","May-25"],[[3.2999999999999998],[3.5],[2.1000000000000001],[2.5],[3.1000000000000001],[3],[3.2000000000000002],[3.5],[4],[4.9000000000000004],[5.7000000000000002],[5.5],[6.0999999999999996],[6.7999999999999998],[7.2000000000000002],[7.2000000000000002],[7.2000000000000002],[7],[7.4000000000000004],[8.4000000000000004],[7.5],[6.7999999999999998],[6.2999999999999998],[6.7000000000000002],[5.5],[5.4000000000000004],[4.9000000000000004],[5.2000000000000002],[5.5999999999999996],[4.9000000000000004],[4.2999999999999998],[3.3999999999999999],[3.3999999999999999],[3.3999999999999999],[3.5],[3.6000000000000001],[4],[3.7999999999999998],[3.5],[2.7000000000000002],[2.1000000000000001],[2.1000000000000001],[2.2999999999999998],[2.5],[2.5],[2.3999999999999999],[2.3999999999999999],[2.3999999999999999],[2.1000000000000001]],[[3],[3.3999999999999999],[2.1000000000000001],[2.6000000000000001],[2.5],[2],[2.2000000000000002],[2.8999999999999999],[3.1000000000000001],[4.0999999999999996],[4.4000000000000004],[4.9000000000000004],[5.2000000000000002],[5.5],[6.2000000000000002],[6.5999999999999996],[6.5999999999999996],[7],[7.0999999999999996],[7.2000000000000002],[6.9000000000000004],[6.7999999999999998],[6.9000000000000004],[6.5],[6.4000000000000004],[6.0999999999999996],[5.7999999999999998],[5.5],[5.5],[5.0999999999999996],[4.7999999999999998],[4.2000000000000002],[4.0999999999999996],[3.8999999999999999],[4.0999999999999996],[4.0999999999999996],[4],[4],[3.7000000000000002],[3],[2.7000000000000002],[2.3999999999999999],[2.7999999999999998],[2.7000000000000002],[2.8999999999999999],[2.7000000000000002],[2.6000000000000001],[2.7999999999999998],[2.7000000000000002]],[[1.5],[1.5],[1.6000000000000001],[2],[2.2999999999999998],[2.2999999999999998],[2.2999999999999998],[2.7000000000000002],[3.1000000000000001],[3.3999999999999999],[3.7000000000000002],[4],[4.2999999999999998],[4.5],[5.4000000000000004],[5.9000000000000004],[6.0999999999999996],[6.0999999999999996],[6.5999999999999996],[7.2000000000000002],[6.5],[6.5],[6.5],[6.7000000000000002],[6.0999999999999996],[6],[5.5999999999999996],[5.5999999999999996],[5.4000000000000004],[5.2999999999999998],[4.5999999999999996],[4],[3.7999999999999998],[3.8999999999999999],[4],[4.0999999999999996],[4.4000000000000004],[4.0999999999999996],[3.7999999999999998],[3.3999999999999999],[3.2000000000000002],[3.5],[3.2000000000000002],[2.7000000000000002],[2.7999999999999998],[2.7000000000000002],[2.7000000000000002],[2.7999999999999998],[2.3999999999999999]]]

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*Volatile items are Fruit and vegetables and Automotive fuel

Monthly CPI Indicator and Groups, Australia, annual movement (%)
	Dec-24 (%)	Jan-25 (%)	Feb-25 (%)	Mar-25 (%)	Apr-25 (%)	May-25 (%)
Monthly CPI indicator	2.5	2.5	2.4	2.4	2.4	2.1
Food & non-alcoholic beverages	2.7	3.3	3.1	3.4	3.1	2.9
Alcohol & tobacco	5.8	6.4	6.7	6.7	5.7	5.9
Clothing & footwear	1.3	2.1	1.8	0.7	0.8	1.3
Housing	1.5	2.1	1.8	1.8	2.2	2.0
Furnishings, household equipment & services	1.3	1.0	1.0	0.6	1.0	0.9
Health	4.0	4.0	4.0	4.0	4.4	4.4
Transport	0.7	0.5	-0.9	-1.9	-3.2	-2.5
Communications	-0.1	-0.6	0.3	0.2	0.7	1.0
Recreation & culture	1.6	0.9	1.4	2.7	3.6	1.4
Education	6.5	6.5	5.6	5.7	5.7	5.7
Insurance & financial services	5.2	5.3	4.5	3.9	4.0	3.1

Monthly CPI Indicator and Groups, Australia, annual movement (%)

["","Dec-24","Jan-25","Feb-25","Mar-25","Apr-25","May-25"]

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Food and non-alcoholic beverages

Annual inflation for Food and non-alcoholic beverages was 2.9% in May, down from 3.1% in April.

Fruit and vegetable prices rose 2.8% in the 12 months to May, down significantly from a 6.1% rise in the 12 months to April. Fruit fell 2.7% in the month of May with lower prices for mandarins, oranges, avocados and apples.

Food products n.e.c. rose 3.7% in the 12 months to May compared to a 3.6% rise in the 12 months to April. Higher cocoa bean prices and egg shortages have contributed to price rises for snacks and confectionary (+5.3%) and eggs (+19.3%) in the 12 months to May.

Non-alcoholic beverages rose 5.2% in the 12 months to May compared to a 3.9% rise in the 12 months to April. Coffee, tea and cocoa rose 8.3% over the year to May, reflecting higher coffee bean prices.

Grocery products, Australia, annual movement (%)
	January (%)	February (%)	March (%)	April (%)	May (%)
Food and non-alcoholic beverages	3.3	3.1	3.4	3.1	2.9
Bread and cereal products	3.0	2.3	2.5	2.6	2.0
Meat and seafoods	4.7	4.4	3.7	2.5	3.1
Dairy and related products	-0.4	-0.3	0.1	0.1	0.1
Fruit and vegetables	7.0	5.2	7.6	6.1	2.8
Food products n.e.c.	3.1	2.7	3.3	3.6	3.7
Non-alcoholic beverages	2.7	4.3	4.0	3.9	5.2

Grocery products, Australia, annual movement (%)

["","January","February","March","April","May"]

[["Food and non-alcoholic beverages","Bread and cereal products","Meat and seafoods","Dairy and related products","Fruit and vegetables","Food products n.e.c.","Non-alcoholic beverages"],[[3.2999999999999998],[3],[4.7000000000000002],[-0.40000000000000002],[7],[3.1000000000000001],[2.7000000000000002]],[[3.1000000000000001],[2.2999999999999998],[4.4000000000000004],[-0.29999999999999999],[5.2000000000000002],[2.7000000000000002],[4.2999999999999998]],[[3.3999999999999999],[2.5],[3.7000000000000002],[0.10000000000000001],[7.5999999999999996],[3.2999999999999998],[4]],[[3.1000000000000001],[2.6000000000000001],[2.5],[0.10000000000000001],[6.0999999999999996],[3.6000000000000001],[3.8999999999999999]],[[2.8999999999999999],[2],[3.1000000000000001],[0.10000000000000001],[2.7999999999999998],[3.7000000000000002],[5.2000000000000002]]]

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Automotive fuel

Automotive fuel prices fell 10.0% in the 12 months to May, following a fall of 12.0% in the 12 months to April. In the month of May, Automotive fuel prices fell 2.9% due to lower global oil prices at that time.

Automotive fuel, Australia, monthly and annual movement (%)
	Monthly (%)	Annual (%)
May-21	-0.8	30.6
Jun-21	-0.3	19.4
Jul-21	7.1	23.6
Aug-21	-0.7	24.0
Sep-21	2.6	26.5
Oct-21	5.4	33.9
Nov-21	1.3	37.0
Dec-21	-3.4	26.5
Jan-22	4.3	29.7
Feb-22	6.0	34.0
Mar-22	12.5	40.9
Apr-22	-13.8	19.4
May-22	11.0	33.7
Jun-22	6.9	43.2
Jul-22	-3.4	29.2
Aug-22	-11.5	15.0
Sep-22	-1.7	10.1
Oct-22	7.0	11.8
Nov-22	5.6	16.6
Dec-22	-8.1	10.8
Jan-23	1.1	7.5
Feb-23	4.1	5.6
Mar-23	-2.2	-8.2
Apr-23	2.9	9.5
May-23	-6.7	-8.0
Jun-23	3.8	-10.6
Jul-23	-0.2	-7.6
Aug-23	9.1	13.9
Sep-23	3.3	19.7
Oct-23	-2.9	8.6
Nov-23	-0.5	2.3
Dec-23	-5.5	5.3
Jan-24	-0.9	3.1
Feb-24	5.1	4.1
Mar-24	1.5	8.1
Apr-24	2.2	7.4
May-24	-5.1	9.3
Jun-24	1.2	6.6
Jul-24	-2.6	4.0
Aug-24	-3.1	-7.6
Sep-24	-3.9	-14.0
Oct-24	-0.1	-11.5
Nov-24	0.9	-10.2
Dec-24	3.8	-1.4
Jan-25	-1.4	-1.9
Feb-25	1.2	-5.5
Mar-25	-0.7	-7.6
Apr-25	-2.6	-12.0
May-25	-2.9	-10.0

Automotive fuel, Australia, monthly and annual movement (%)

["","Monthly","Annual"]

[["May-21","Jun-21","Jul-21","Aug-21","Sep-21","Oct-21","Nov-21","Dec-21","Jan-22","Feb-22","Mar-22","Apr-22","May-22","Jun-22","Jul-22","Aug-22","Sep-22","Oct-22","Nov-22","Dec-22","Jan-23","Feb-23","Mar-23","Apr-23","May-23","Jun-23","Jul-23","Aug-23","Sep-23","Oct-23","Nov-23","Dec-23","Jan-24","Feb-24","Mar-24","Apr-24","May-24","Jun-24","Jul-24","Aug-24","Sep-24","Oct-24","Nov-24","Dec-24","Jan-25","Feb-25","Mar-25","Apr-25","May-25"],[[-0.80000000000000004],[-0.29999999999999999],[7.0999999999999996],[-0.69999999999999996],[2.6000000000000001],[5.4000000000000004],[1.3],[-3.3999999999999999],[4.2999999999999998],[6],[12.5],[-13.800000000000001],[11],[6.9000000000000004],[-3.3999999999999999],[-11.5],[-1.7],[7],[5.5999999999999996],[-8.0999999999999996],[1.1000000000000001],[4.0999999999999996],[-2.2000000000000002],[2.8999999999999999],[-6.7000000000000002],[3.7999999999999998],[-0.20000000000000001],[9.0999999999999996],[3.2999999999999998],[-2.8999999999999999],[-0.5],[-5.5],[-0.90000000000000002],[5.0999999999999996],[1.5],[2.2000000000000002],[-5.0999999999999996],[1.2],[-2.6000000000000001],[-3.1000000000000001],[-3.8999999999999999],[-0.10000000000000001],[0.90000000000000002],[3.7999999999999998],[-1.3999999999999999],[1.2],[-0.69999999999999996],[-2.6000000000000001],[-2.8999999999999999]],[[30.600000000000001],[19.399999999999999],[23.600000000000001],[24],[26.5],[33.899999999999999],[37],[26.5],[29.699999999999999],[34],[40.899999999999999],[19.399999999999999],[33.700000000000003],[43.200000000000003],[29.199999999999999],[15],[10.1],[11.800000000000001],[16.600000000000001],[10.800000000000001],[7.5],[5.5999999999999996],[-8.1999999999999993],[9.5],[-8],[-10.6],[-7.5999999999999996],[13.9],[19.699999999999999],[8.5999999999999996],[2.2999999999999998],[5.2999999999999998],[3.1000000000000001],[4.0999999999999996],[8.0999999999999996],[7.4000000000000004],[9.3000000000000007],[6.5999999999999996],[4],[-7.5999999999999996],[-14],[-11.5],[-10.199999999999999],[-1.3999999999999999],[-1.8999999999999999],[-5.5],[-7.5999999999999996],[-12],[-10]]]

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Rents

Rents rose 4.5% in the 12 months to May, following a 5.0% rise in the 12 months to April. This is the lowest annual growth in rental prices since December 2022, consistent with smaller increases in advertised rents and stable vacancy rates across most capital cities. In monthly terms, rental prices rose 0.3%.

Rents, Australia, monthly and annual movement (%)
	Annual (RHS) (%)	Monthly (LHS) (%)
Aug-22	2.4	0.5
Sep-22	2.9	0.5
Oct-22	3.5	0.6
Nov-22	3.6	0.2
Dec-22	4.1	0.5
Jan-23	4.8	0.7
Feb-23	4.8	0.7
Mar-23	5.3	0.5
Apr-23	6.1	0.8
May-23	6.3	0.8
Jun-23	7.3	0.9
Jul-23	7.6	0.7
Aug-23	7.8	0.7
Sep-23	7.6	0.3⁽¹⁾
Oct-23	6.6	-0.4⁽³⁾
Nov-23	7.1	0.7
Dec-23	7.4	0.7
Jan-24	7.4	0.7
Feb-24	7.6	0.8
Mar-24	7.7	0.6
Apr-24	7.5	0.5
May-24	7.4	0.8
Jun-24	7.1	0.6
Jul-24	6.9	0.6
Aug-24	6.8	0.6
Sep-24	6.6	0.1⁽²⁾
Oct-24	6.7	-0.3⁽⁴⁾
Nov-24	6.6	0.6
Dec-24	6.2	0.3
Jan-25	5.8	0.3
Feb-25	5.5	0.5
Mar-25	5.2	0.3
Apr-25	5.0	0.3
May-25	4.5	0.3

(1) CRA change (a) ↵
(2) CRA change (b) ↵
(3) ↵
(4) ↵

Rents, Australia, monthly and annual movement (%)

["","Annual (RHS)","Monthly (LHS)"]

[["Aug-22","Sep-22","Oct-22","Nov-22","Dec-22","Jan-23","Feb-23","Mar-23","Apr-23","May-23","Jun-23","Jul-23","Aug-23","Sep-23","Oct-23","Nov-23","Dec-23","Jan-24","Feb-24","Mar-24","Apr-24","May-24","Jun-24","Jul-24","Aug-24","Sep-24","Oct-24","Nov-24","Dec-24","Jan-25","Feb-25","Mar-25","Apr-25","May-25"],[[2.3999999999999999],[2.8999999999999999],[3.5],[3.6000000000000001],[4.0999999999999996],[4.7999999999999998],[4.7999999999999998],[5.2999999999999998],[6.0999999999999996],[6.2999999999999998],[7.2999999999999998],[7.5999999999999996],[7.7999999999999998],[7.5999999999999996],[6.5999999999999996],[7.0999999999999996],[7.4000000000000004],[7.4000000000000004],[7.5999999999999996],[7.7000000000000002],[7.5],[7.4000000000000004],[7.0999999999999996],[6.9000000000000004],[6.7999999999999998],[6.5999999999999996],[6.7000000000000002],[6.5999999999999996],[6.2000000000000002],[5.7999999999999998],[5.5],[5.2000000000000002],[5],[4.5]],[[0.5],[0.5],[0.59999999999999998],[0.20000000000000001],[0.5],[0.69999999999999996],[0.69999999999999996],[0.5],[0.80000000000000004],[0.80000000000000004],[0.90000000000000002],[0.69999999999999996],[0.69999999999999996],[0.29999999999999999],[-0.40000000000000002],[0.69999999999999996],[0.69999999999999996],[0.69999999999999996],[0.80000000000000004],[0.59999999999999998],[0.5],[0.80000000000000004],[0.59999999999999998],[0.59999999999999998],[0.59999999999999998],[0.10000000000000001],[-0.29999999999999999],[0.59999999999999998],[0.29999999999999999],[0.29999999999999999],[0.5],[0.29999999999999999],[0.29999999999999999],[0.29999999999999999]]]

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Commonwealth Rent Assistance (CRA) maximum rates increased by 15% on top of the usual biannual CPI indexation from 20 September 2023.
Commonwealth Rent Assistance (CRA) maximum rates increased by 10% on top of the usual biannual CPI indexation from 20 September 2024.

New dwellings

New dwelling prices, which capture new builds and major renovations, rose 0.8% in the 12 months to May, compared to a 1.2% rise in the 12 months to April. This is the smallest annual growth since April 2021 as project home builders offered discounts and promotional offers to entice business. In the month of May, new dwelling prices were unchanged (0.0%).

New dwellings, Australia, monthly and annual movement (%)
	Annual (RHS) (%)	Monthly (LHS) (%)
May-21	1.6	1.3
Jun-21	1.9	0.8
Jul-21	2.1	0.5
Aug-21	4.1	2.1
Sep-21	5.0	0.9
Oct-21	5.0	0.2
Nov-21	6.9	2.2
Dec-21	9.6	2.5
Jan-22	10.5	1.6
Feb-22	13.4	1.6
Mar-22	15.8	2.0
Apr-22	19.3	2.2
May-22	19.4	1.3
Jun-22	20.7	1.9
Jul-22	21.7	1.3
Aug-22	20.5	1.1
Sep-22	20.0	0.5
Oct-22	20.4	0.5
Nov-22	17.9	0.1
Dec-22	16.0	0.9
Jan-23	14.7	0.5
Feb-23	13.0	0.2
Mar-23	11.1	0.2
Apr-23	9.2	0.5
May-23	8.3	0.4
Jun-23	6.6	0.2
Jul-23	5.9	0.7
Aug-23	4.8	0.1
Sep-23	4.9	0.7
Oct-23	4.7	0.2
Nov-23	5.5	0.9
Dec-23	5.1	0.5
Jan-24	4.8	0.1
Feb-24	4.9	0.3
Mar-24	5.1	0.4
Apr-24	4.9	0.3
May-24	4.9	0.4
Jun-24	5.4	0.6
Jul-24	5.0	0.4
Aug-24	5.1	0.1
Sep-24	4.3	-0.1
Oct-24	4.2	0.1
Nov-24	2.8	-0.6
Dec-24	2.3	0.1
Jan-25	2.0	-0.1
Feb-25	1.6	-0.1
Mar-25	1.0	-0.1
Apr-25	1.2	0.5
May-25	0.8	0.0

New dwellings, Australia, monthly and annual movement (%)

["","Annual (RHS)","Monthly (LHS)"]

[["May-21","Jun-21","Jul-21","Aug-21","Sep-21","Oct-21","Nov-21","Dec-21","Jan-22","Feb-22","Mar-22","Apr-22","May-22","Jun-22","Jul-22","Aug-22","Sep-22","Oct-22","Nov-22","Dec-22","Jan-23","Feb-23","Mar-23","Apr-23","May-23","Jun-23","Jul-23","Aug-23","Sep-23","Oct-23","Nov-23","Dec-23","Jan-24","Feb-24","Mar-24","Apr-24","May-24","Jun-24","Jul-24","Aug-24","Sep-24","Oct-24","Nov-24","Dec-24","Jan-25","Feb-25","Mar-25","Apr-25","May-25"],[[1.6000000000000001],[1.8999999999999999],[2.1000000000000001],[4.0999999999999996],[5],[5],[6.9000000000000004],[9.5999999999999996],[10.5],[13.4],[15.800000000000001],[19.300000000000001],[19.399999999999999],[20.699999999999999],[21.699999999999999],[20.5],[20],[20.399999999999999],[17.899999999999999],[16],[14.699999999999999],[13],[11.1],[9.1999999999999993],[8.3000000000000007],[6.5999999999999996],[5.9000000000000004],[4.7999999999999998],[4.9000000000000004],[4.7000000000000002],[5.5],[5.0999999999999996],[4.7999999999999998],[4.9000000000000004],[5.0999999999999996],[4.9000000000000004],[4.9000000000000004],[5.4000000000000004],[5],[5.0999999999999996],[4.2999999999999998],[4.2000000000000002],[2.7999999999999998],[2.2999999999999998],[2],[1.6000000000000001],[1],[1.2],[0.80000000000000004]],[[1.3],[0.80000000000000004],[0.5],[2.1000000000000001],[0.90000000000000002],[0.20000000000000001],[2.2000000000000002],[2.5],[1.6000000000000001],[1.6000000000000001],[2],[2.2000000000000002],[1.3],[1.8999999999999999],[1.3],[1.1000000000000001],[0.5],[0.5],[0.10000000000000001],[0.90000000000000002],[0.5],[0.20000000000000001],[0.20000000000000001],[0.5],[0.40000000000000002],[0.20000000000000001],[0.69999999999999996],[0.10000000000000001],[0.69999999999999996],[0.20000000000000001],[0.90000000000000002],[0.5],[0.10000000000000001],[0.29999999999999999],[0.40000000000000002],[0.29999999999999999],[0.40000000000000002],[0.59999999999999998],[0.40000000000000002],[0.10000000000000001],[-0.10000000000000001],[0.10000000000000001],[-0.59999999999999998],[0.10000000000000001],[-0.10000000000000001],[-0.10000000000000001],[-0.10000000000000001],[0.5],[0]]]

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Electricity

Electricity fell 5.9% in the 12 months to May, compared to a 6.5% fall in the 12 months to April.

The impact of the Commonwealth Energy Bill Relief Fund (EBRF) rebates was lower in May than April due to the timing of payments in Victoria. Electricity bills received by Victorian households in May included only one instalment of the Commonwealth Energy Bill Relief Fund rebate, whereas many bills received in April included two instalments. As a result, national electricity prices rose 2.0% in the month of May.

Electricity, Australia, monthly and annual movement (%)
	Monthly (%)	Annual (%)
May-24	1.4	6.5
Jun-24	0.1	7.5
Jul-24	-6.4	-5.1
Aug-24	-14.6	-17.9
Sep-24	-7.4	-24.1
Oct-24	-12.3	-35.6
Nov-24	22.4	-21.5
Dec-24	-1.5	-17.9
Jan-25	8.9	-11.5
Feb-25	-2.5	-13.2
Mar-25	9.2	-9.6
Apr-25	1.5	-6.5
May-25	2.0	-5.9

Electricity, Australia, monthly and annual movement (%)

["","Monthly","Annual"]

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Commonwealth and State government electricity rebates
	Commonwealth $300 rebate	QLD $1,000 State rebate	TAS $60 State rebate (Renewable Energy Dividend)
Rebate method	Applied directly to electricity bills as four equal $75 quarterly instalments in the 2024-25 FY (a)	Applied directly to electricity bills as a one-off $1,000 rebate	Applied directly to electricity bills as a one-off $60 rebate
Timing	From July 2024 for WA (b) and QLD. For all remaining States and Territories, from August 2024. (c) and (d)	From July 2024	From May 2025

This applies to all States and Territories, except WA, where rebates have been applied directly to electricity bills as two equal $150 instalments from July 2024 and December 2024.
In Western Australia, the first instalment of both Energy Bill Relief Fund 2024-25 and $400 Electricity Credit has been paid from 20 July 2024. The remaining proportion of households whose billing cycle is in July 2024 have received their first instalment in October 2024. The second instalment of rebates has been paid from 7 December 2024. The remaining proportion of households whose billing cycle is in December 2024 have received their second instalment in March 2025.
For States and Territories receiving rebates from August, the households whose billing cycle is in July 2024 have received two instalments in October 2024.
In New South Wales and Victoria, the first instalment of Energy Bill Relief Fund 2024-25 has been paid from part way through August 2024. The remaining proportion of households whose billing cycle is in August have received their first instalment in November 2024. In Victoria, the third instalment of Energy Bill Relief Fund 2024-25 has been paid from part way through January 2025. The remaining proportion of households whose billing cycle is in January have received their third instalment in April 2025.

The following graph shows the Electricity series including and excluding government electricity rebates. The EBRF rebates were first introduced in July 2023 and were expanded to all households in July 2024. These rebates have had the effect of reducing electricity prices for households. Including government electricity rebates, electricity prices for households have increased by 1.1% since June 2023. Excluding these rebates, electricity prices for households would have increased 17.7% since June 2023.

Electricity index, Australia, index number (June 2023 = 100)
	Excluding Government Electricity Rebates (Index)	Including Government Electricity Rebates (Index)
Jun-23	100	100
Jul-23	119	106⁽¹⁾
Aug-23	120	105
Sep-23	120	105
Oct-23	119	109
Nov-23	119	109
Dec-23	118	103
Jan-24	118	104
Feb-24	118	103
Mar-24	118	108
Apr-24	116	106
May-24	116	108
Jun-24	116	108
Jul-24	117	101⁽²⁾
Aug-24	117	86⁽³⁾
Sep-24	116	80
Oct-24	116	70⁽⁴⁾
Nov-24	117	86
Dec-24	117	85⁽⁵⁾
Jan-25	117	92⁽⁶⁾
Feb-25	117	90
Mar-25	118	98
Apr-25	118	99⁽⁷⁾
May-25	118	101⁽⁸⁾

(1) EBRF (a) ↵
(2) EBRF (b) ↵
(3) EBRF (c) ↵
(4) EBRF (d) ↵
(5) EBRF (e) ↵
(6) EBRF (f) ↵
(7) EBRF (g) ↵
(8) EBRF (h) ↵

Electricity index, Australia, index number (June 2023 = 100)

["","Excluding Government Electricity Rebates","Including Government Electricity Rebates"]

[["Jun-23","Jul-23","Aug-23","Sep-23","Oct-23","Nov-23","Dec-23","Jan-24","Feb-24","Mar-24","Apr-24","May-24","Jun-24","Jul-24","Aug-24","Sep-24","Oct-24","Nov-24","Dec-24","Jan-25","Feb-25","Mar-25","Apr-25","May-25"],[[100],[119],[120],[120],[119],[119],[118],[118],[118],[118],[116],[116],[116],[117],[117],[116],[116],[117],[117],[117],[117],[118],[118],[118]],[[100],[106],[105],[105],[109],[109],[103],[104],[103],[108],[106],[108],[108],[101],[86],[80],[70],[86],[85],[92],[90],[98],[99],[101]]]

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June 2023, index = 100

a. Introduction of the 2023-24 Energy Bill Relief Fund (EBRF) rebates

b. Introduction of the first instalment of 2024-25 Commonwealth rebates for all households in QLD and WA, and State rebates in QLD, WA and TAS

c. Introduction of the first instalment of 2024-25 Commonwealth rebates for all households in NSW, VIC, SA, TAS, NT and ACT

d. Introduction of the second instalment of 2024-25 Commonwealth rebates for all households in NSW, VIC, QLD, SA, TAS, NT and ACT

e. Introduction of the second instalment of 2024-25 Commonwealth rebates and State rebate for all households in WA

f. Introduction of the third instalment of 2024-25 Commonwealth rebates for all households in NSW, VIC, QLD, SA, TAS, NT and ACT

g. Introduction of the fourth instalment of 2024-25 Commonwealth rebates for all households in NSW, VIC, QLD, SA, TAS, NT and ACT

h. Introduction of the new State rebate for all households in TAS

Holiday travel and accommodation

Holiday travel and accommodation prices rose 0.6% rise in the 12 months to May, following a 5.3% rise in the 12 months to April.

In monthly terms, Holiday travel and accommodation prices fell 7.0% in May, following a 6.0% rise in April. This was driven by Domestic holiday travel and accommodation with a fall in demand after the Easter and school holiday period.

Holiday travel and accommodation, Australia, monthly and annual movement (%)
	Monthly (%)	Annual (%)
May-21	-6.1	-8.3
Jun-21	4.3	-4.0
Jul-21	-1.4	-10.7
Aug-21	-0.3	-10.5
Sep-21	4.5	2.8
Oct-21	1.7	5.7
Nov-21	-4.1	2.3
Dec-21	10.8	1.5
Jan-22	1.9	6.1
Feb-22	-12.4	1.0
Mar-22	2.3	5.0
Apr-22	9.0	8.2
May-22	-7.5	6.6
Jun-22	5.4	7.8
Jul-22	3.6	13.3
Aug-22	-5.0	7.9
Sep-22	9.1	12.6
Oct-22	-6.4	3.7
Nov-22	4.3	12.8
Dec-22	27.0	29.3
Jan-23	-7.2	17.8
Feb-23	-14.6	14.9
Mar-23	1.5	13.9
Apr-23	7.2	11.9
May-23	-11.3	7.3
Jun-23	10.9	12.9
Jul-23	-3.3	5.3
Aug-23	-3.9	6.6
Sep-23	4.3	1.9
Oct-23	-7.0	1.3
Nov-23	2.7	-0.3
Dec-23	15.8	-9.1
Jan-24	-5.2	-7.1
Feb-24	-9.3	-1.3
Mar-24	-1.2	-3.9
Apr-24	4.6	-6.2
May-24	-2.7	2.9
Jun-24	7.0	-0.7
Jul-24	-2.4	0.2
Aug-24	-1.4	2.8
Sep-24	4.0	2.5
Oct-24	-2.0	8.0
Nov-24	-1.3	3.8
Dec-24	11.5	-0.1
Jan-25	-5.9	-0.8
Feb-25	-7.6	1.0
Mar-25	1.7	3.9
Apr-25	6.0	5.3
May-25	-7.0	0.6

Holiday travel and accommodation, Australia, monthly and annual movement (%)

["","Monthly","Annual"]

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Insurance

Insurance prices rose 3.9% in the 12 months to May, after a 7.6% rise in the 12 months to April. The decline in the annual growth rate was driven by house and motor vehicle insurance, which continue to slow. The 3.9% annual increase to May for insurance was well down from the peak of 16.5% to February 2024.

Insurance, Australia, annual movement (%)
	Insurance (%)
May-21	2.7
Aug-21	3.5
Nov-21	3.2
Feb-22	4.2
May-22	3.2
Aug-22	4.2
Nov-22	6.3
Feb-23	8.7
May-23	14.2
Aug-23	14.7
Nov-23	16.3
Feb-24	16.5
May-24	14
Aug-24	14
Nov-24	11
Feb-25	7.6
May-25	3.9

Insurance, Australia, annual movement (%)

["","Insurance"]

[["May-21","Aug-21","Nov-21","Feb-22","May-22","Aug-22","Nov-22","Feb-23","May-23","Aug-23","Nov-23","Feb-24","May-24","Aug-24","Nov-24","Feb-25","May-25"],[[2.7000000000000002],[3.5],[3.2000000000000002],[4.2000000000000002],[3.2000000000000002],[4.2000000000000002],[6.2999999999999998],[8.6999999999999993],[14.199999999999999],[14.699999999999999],[16.300000000000001],[16.5],[14],[14],[11],[7.5999999999999996],[3.8999999999999999]]]

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Data files

TABLE 1. Monthly CPI Indicator: All groups, Groups, select Expenditure classes and Analytical series, Australia, Index Numbers and Percentage Change from Corresponding Month of Previous Year, Weighted Average of Eight Capital Cities
Download xlsx [88.45 KB]
TABLE 2. Monthly CPI Indicator: select Groups, select Expenditure classes and Analytical series, Australia, Percentage Change from previous period, Weighted Average of Eight Capital Cities
Download xlsx [55.05 KB]

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Detailed monthly data

Monthly Expenditure class data


	Monthly % Change			Annual % Change
Index name	Mar-25	Apr-25	May-25	May 24 to May 25	Frequency
Bread	0.1	-0.3	-0.5	1.9	Monthly
Cakes and biscuits	1.3	0.0	-0.9	2.8	Monthly
Breakfast cereals	1.0	-1.4	-0.7	0.4	Monthly
Other cereal products	1.0	-1.5	0.2	-0.4	Monthly
Beef and veal	2.1	-0.4	0.3	3.6	Monthly
Pork	0.8	-1.7	1.2	3.4	Monthly
Lamb and goat	-0.9	-0.1	1.5	12.7	Monthly
Poultry	-0.2	-1.2	0.4	1.0	Monthly
Other meats	0.3	-0.6	0.1	1.5	Monthly
Fish and other seafood	-0.9	0.3	1.8	0.4	Monthly
Milk	0.1	0.4	-0.4	-0.2	Monthly
Cheese	0.9	-0.4	0.1	0.8	Monthly
Ice cream & other dairy products	2.2	0.0	-1.1	-0.2	Monthly
Fruit	2.7	4.1	-2.7	4.5	Monthly
Vegetables	2.8	1.0	0.7	1.5	Monthly
Eggs	1.7	4.5	0.9	19.3	Monthly
Jams, honey & spreads	0.7	-0.2	-0.4	1.4	Monthly
Food additives & condiments	0.0	-0.8	0.3	1.1	Monthly
Oils and fats	-1.7	0.7	0.3	0.4	Monthly
Snacks and confectionery	0.9	2.6	-1.0	5.3	Monthly
Other food products n.e.c.	-0.1	-1.2	-0.1	1.1	Monthly
Coffee, tea and cocoa	0.3	1.9	0.7	8.3	Monthly
Waters soft drinks & juices	1.1	-1.3	2.4	4.2	Monthly
Restaurant meals	imp	imp	0.3	2.3	Quarterly
Takeaway and fast foods	imp	imp	1.1	3.1	Quarterly
Spirits	-0.3	-1.1	0.5	2.3	Monthly
Wine	1.8	-1.4	1.1	2.6	Monthly**
Beer	-0.3	-0.5	0.5	4.2	Monthly
Tobacco	1.4	1.1	-0.2	11.5	Monthly
Garments for men	-2.1	5.6	-2.0	-0.6	Monthly**
Garments for women	-3.2	6.6	-2.1	2.5	Monthly**
Garments for infant & child	imp	5	imp	-1.0	Quarterly
Footwear for men	imp	5.5	imp	2.5	Quarterly
Footwear for women	imp	7.4	imp	0.5	Quarterly
Footwear for infant & child	imp	-0.3	imp	0.0	Quarterly
Accessories	imp	-1.3	imp	2.3	Quarterly
Cleaning, repair & hire	imp	1.3	imp	2.9	Quarterly
Rents	0.3	0.3	0.3	4.5	Monthly**
New dwelling purchase by owner occupiers	-0.1	0.5	0.0	0.8	Monthly**
Maintenance & repair of dwelling	imp	0.5	imp	2.8	Quarterly
Property rates and charges	0.0	imp	imp	5.0	Quarterly***
Water and sewerage	0.0	imp	imp	2.7	Quarterly***
Electricity	9.2	1.5	2.0	-5.9	Monthly
Gas and other household fuels	-0.2	-0.6	-2.4	6.5	Monthly
Furniture	imp	2.9	imp	1.1	Quarterly
Carpets & other floor cover	imp	0.4	imp	-0.8	Quarterly
Household textiles	imp	3.6	imp	-1.0	Quarterly
Major household appliances	imp	1.7	imp	-1.0	Quarterly
Small electronic household appliances	imp	1.3	imp	-0.6	Quarterly
Glassware, tableware & household	imp	0.5	imp	0.5	Quarterly
Tools & equipment	imp	-0.1	imp	-0.6	Quarterly
Cleaning & maintenance products	0.3	-0.8	0.2	-0.2	Monthly
Personal care products	0.1	1.5	-1.5	0.2	Monthly
Other non-durable household products	0.2	0.7	0.0	-0.5	Monthly
Child care	2.4	imp	imp	2.7	Quarterly
Hairdressing & personal grooming	imp	imp	0.4	3.6	Quarterly
Other household services	imp	imp	0.1	2.4	Quarterly
Pharmaceutical products	5.4	imp	imp	1.4	Quarterly
Therapeutic appliances and equipment	1.6	imp	imp	1.7	Quarterly
Medical & hospital services	2.7	3.2	imp	5.4	Quarterly***
Dental services	0.3	imp	imp	2.2	Quarterly
Motor vehicles	0.2	imp	imp	-1.0	Quarterly
Spare parts & accessories	imp	imp	0.7	3.0	Quarterly
Automotive fuel	-0.7	-2.6	-2.9	-10.0	Monthly
Maintenance & repair of vehicle	imp	imp	1.5	3.7	Quarterly
Other services in respect of motor vehicle	imp	imp	0.3	1.3	Quarterly
Urban transport fares	0.5	0.1	0.1	-3.6	Monthly*****
Postal services	0.4	1.5	-0.1	3.6	Monthly
Telecommunications equip & services	-0.1	0.1	-0.3	0.8	Quarterly*
Audio, visual & computer equipment	1.4	0.7	1.1	-0.8	Quarterly*
Audio, visual, media & services	imp	imp	1.3	5.1	Quarterly
Books	0.1	imp	imp	-0.8	Quarterly
Newspaper magazine & stationery	0.7	imp	imp	2.0	Quarterly
Domestic holiday travel & accommodation	3.3	3.9	-9.2	3.9	Monthly
International holiday travel & accommodation	0.0	8.4	-4.8	-2.3	Monthly
Equipment for sports, camping & recreation	imp	imp	-0.3	-0.7	Quarterly
Games, toys and hobbies	imp	imp	-0.3	3.3	Quarterly
Pets and related products	0.1	0.5	-1.5	-0.1	Monthly
Veterinary and other services for pets	1.3	imp	imp	5.7	Quarterly
Sports participation	-0.3	imp	0.0	5.0	Quarterly****
Other recreational sports & cultural services	imp	imp	-1.2	2.0	Quarterly
Preschool & primary education	0.5	imp	0.0	8.2	Quarterly***
Secondary education	imp	imp	0.0	6.3	Quarterly***
Tertiary education	imp	imp	0.0	3.8	Quarterly***
Insurance	imp	imp	-0.5	3.9	Quarterly
D&L Facilities	2.2	0.6	0.1	2.6	Monthly
Other financial services	0.6	imp	imp	2.9	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.

**** Measured in months two and three of the quarter.

***** Monthly from July 2024.

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 each month
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-durable household prods	Other non-durable household prods
New dwelling purchase by owner occupiers	Hairdressing & personal grooming	Child care
Maintenance & repair of dwelling	Other household services	Pharmaceutical products
Furniture	Spare parts & accessories	Therapeutic appliances and equipment
Carpets & other floor cover	Automotive fuel	Medical & hospital services
Household textiles	Maintenance & repair of vehicle	Medical services
Major household appliances	Other services in respect of motor vehicle	Dental services
Small electronic household appliances	Urban transport fares	Motor vehicles
Glassware, tableware & household	Postal services	Automotive fuel
Tools & equipment	Telecommunications equip & services (partial monthly)	Urban transport fares
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
Urban transport fares	Pets and related products	International holiday travel & accommodation
Postal services	Sports participation	Pets and related products
Telecommunications equip & services (partial monthly)	Other recreational sports & cultural services	Vet & other pet services
Audio,visual & computer equipment	Preschool & primary education (quarterly & annual)	Sports participation
Domestic holiday travel & accommodation	Secondary education (annual)	Preschool & primary education (quarterly & annual)
International holiday travel & accommodation	Tertiary education (bi-annual)	D&L Facilities (direct)
Pets and related products	Insurance	Other financial services
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:

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.
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.

Articles

Monthly CPI indicator articles and related media

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.

Methodology

Scope

The monthly CPI indicator is a general measure of price change for goods and services purchased by Australian households.

Geography

Monthly data is published at the national level, derived as a weighted average of the eight capital cities.

Source

Prices are collected for a range of goods and services (the CPI basket) from a variety of retailers across the eight capital cities.

Collection method

Prices are collected in a range of frequencies including monthly, quarterly, and annually using:

web-scraping
online and telephone collections from retailers
administrative data, including supermarket scanner data.

Concepts, sources and methods

Information about the data sources and methods used to compile the CPI is contained in the Consumer Price Index: Concepts, Sources and Methods.

History of changes

Annual update of CPI weights January 2025.
Annual update of CPI weights January 2024.
Partial update of CPI weights July 2023.
Monthly Gas series included June 2023.
Annual trimmed mean included April 2023.
Monthly Electricity included February 2023.

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