CONSUMER PRICE INDEX

Introduction

Change from previous year

Change from previous quarter


Introduction

The Consumer Price Index (CPI) is a widely used economic indicator, that provides a general measure of changes in prices of consumer goods and services purchased by Australian households. Prices are measured in each of the eight state and territory capital cities. The CPI 'basket' is split into 11 major groups:

• Food
• Alcohol and tobacco
• Clothing and footwear
• Housing
• Household contents and services
• Health
• Transportation
• Communication
• Recreation
• Education
• Financial and insurance services.

These groups contain the 90 expenditure classes, which in turn contain a selection of the individual items which are priced each quarter.

Further information about the CPI is contained in Australian Consumer Price Index: Concepts, Sources and Methods, 2009 (cat. no. 6461.0).


Change from previous year

In the year to December 2010, the All Groups Consumer Price Index (CPI) rose by 2.1% for Canberra and 2.7% nationally (weighted average of the eight capital cities). In Canberra the most significant price rise occurred in Alcohol and tobacco, up 9.6%. The most significant rise nationally was also in Alcohol and tobacco, up 11.4%.There were decreases, both nationally and in Canberra, for Clothing and footwear (nationally -4.8%, Canberra -5.5%).

Change from previous quarter

In the December quarter 2010, the All Groups CPI rose by 0.5% for Canberra, and 0.4% nationally (weighted average of eight capital cities). The most significant price rise occurred in Food, up 2.3% in Canberra and 2.2% nationally. The most significant fall occurred for Financial and insurance services, down 1.9% in Canberra and Clothing and footwear, down 1.9% nationally.

The largest contributor to the increase of 0.5% in the CPI for Canberra in December quarter 2010 was Food (+2.3%). Within the Food group, the key driver of the increase was the price for Vegetables, which rose by 17.7% in the quarter.

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