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6401.0 - Consumer Price Index, Australia, Dec 2013 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 22/01/2014   
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MAIN CONTRIBUTORS TO CHANGE


CPI GROUPS

The discussion of the CPI groups below is ordered in terms of their absolute significance to the change in All groups index points for the quarter (see Tables 6 and 7). Unless otherwise stated, the analysis uses original, not seasonally adjusted, estimates.

Weighted average of eight capital cities, Percentage change from previous quarter
Graph: Weighted average of eight capital cities, Percentage change from previous quarter



RECREATION AND CULTURE GROUP (+2.1%)

The recreation and culture group rose in the December quarter 2013. The main contributors to the rise were domestic holiday travel and accommodation (+6.9%) and international holiday travel and accommodation (+2.6%). The rise was partially offset by a fall in audio, visual and computing equipment (-2.1%).

The rise in domestic holiday travel and accommodation was mainly due to increased prices during the Christmas and summer school holiday period.

In the CPI, airfares are collected in advance (at the time of payment), but are only used in the CPI in the quarter in which the trip is undertaken. International airfares are collected two months in advance (October for travel in December) and domestic airfares are collected one month in advance (October for travel in November).

Over the twelve months to the December quarter 2013, the recreation and culture group rose 2.4%.


FOOD AND NON-ALCOHOLIC BEVERAGES GROUP (+1.6%)

The food and non-alcoholic beverages group rose in the December quarter 2013. The main contributors to the rise were fruit (+8.1%) and vegetables (+7.1%). The rise in fruit and vegetables was due to a number of adverse weather events and deteriorating growing conditions in some areas.

Over the twelve months to the December quarter 2013, the food and non-alcoholic beverages group rose 1.1%. The main contributors to the rise were take away and fast foods (+2.0%) and restaurant meals (+1.7%).


ALCOHOL AND TOBACCO GROUP (+1.6%)

The alcohol and tobacco group rose in the December quarter 2013. The main contributor to the rise was tobacco (+2.2%) mainly due to the effects of the federal excise tax rise from 1 December 2013 and a flow on effect from the indexed rise in the excise tax in August.

Over the twelve months to the December quarter 2013, the alcohol and tobacco group rose 5.4%. The main contributor to the rise was tobacco (+10.6%).


HOUSING GROUP (+0.5%)

The housing group rose in the December quarter 2013. The main contributor to the rise was new dwelling purchase by owner-occupiers (+1.0%) mainly due to rising building materials and labour costs.

Over the twelve months to the December quarter 2013, the housing group rose 4.3%. The main contributors to the rise were new dwelling purchase by owner-occupiers (+4.1%), rents (+3.0%) and electricity (+6.3%).


COMMUNICATION GROUP (+1.2%)

The communication group rose in the December quarter 2013 due to a rise in the price of telecommunication equipment and services (+1.2%).

Over the twelve months to the December quarter 2013, the communication group rose 1.7%. The main contributor to the rise was telecommunication equipment and services (+1.6%).


CLOTHING AND FOOTWEAR GROUP (-1.1%)

The clothing and footwear group fell in the December quarter 2013. The main contributor to the fall was garments for women (-1.4%).

Over the twelve months to the December quarter 2013, the clothing and footwear group fell 1.3%. The main contributor to the fall was garments for women (-1.8%).


HEALTH GROUP (-0.5%)

The health group fell in the December quarter 2013. The main contributors to the fall were pharmaceutical products (-1.6%) and medical and hospital services (-0.3%). Pharmaceutical products fell mainly as a result of a greater proportion of consumers exceeding the Pharmaceutical Benefits Scheme (PBS) safety net compared to the September quarter 2013. Medical and hospital services fell mainly as a result of the cyclical effect of a greater proportion of consumers exceeding the Medical Benefits Schedule (MBS) safety net for non-hospital services.

Over the twelve months to the December quarter 2013, the health group rose 4.4%. The main contributor to the rise was medical and hospital services (+5.6%).


FURNISHINGS, HOUSEHOLD EQUIPMENT AND SERVICES GROUP (+0.4%)

The furnishings, household equipment and services group rose in the December quarter 2013. The main contributors to the rise were major household appliances (+3.6%) and furniture (+1.3%).

Over the twelve months to the December quarter 2013, the furnishings, household equipment and services group rose 1.1%. The main contributor to the rise was child care (+8.0%).


INSURANCE AND FINANCIAL SERVICES GROUP (+0.2%)

The insurance and financial services group rose in the December quarter 2013. The main contributor to the rise was other financial services (+0.4%).

Over the twelve months to the December quarter 2013, the insurance and financial services group rose 1.6%. The main contributors to the rise were other financial services (+2.3%) and insurance (+1.0%).


TRANSPORT GROUP (-0.1%)

The transport group fell in the December quarter 2013. The main contributor to the fall was automotive fuel (-1.1%).

The average monthly price of automotive fuel fell in August (-0.8%), rose in September (+0.3%), fell in October (-1.5%) and November (-1.9%) and rose in December (+5.5%).

The following graph illustrates the pattern of the average daily prices for unleaded petrol for the eight capital cities over the last fifteen months.

Diagram: TRANSPORT GROUP (–0.1%)

Over the twelve months to the December quarter 2013, the transport group rose 1.9%. The main contributor to the rise was automotive fuel (+4.4%).


EDUCATION GROUP (0.0%)

The education group recorded no movement in the December quarter 2013.

Over the twelve months to the December quarter 2013, the education group rose 5.6%.


INTERNATIONAL TRADE EXPOSURE - TRADABLES AND NON-TRADABLES

The tradables component (see Table 8) of the All groups CPI rose 0.7% in the December quarter 2013. Prices for the goods and services in this component are largely determined on the world market. The tradables component represents approximately 40% of the weight of the CPI. The most significant contributors to the 0.5% rise in the tradable goods component were fruit, vegetables and tobacco. The most significant offsetting falls in the tradable goods component was for automotive fuel. The rise in the tradable services component of 2.6% was driven by international holiday travel and accommodation.

The non-tradables component of the All groups CPI rose 0.8% in the December quarter 2013. Prices for the goods and services in this component are largely determined by domestic price pressures. The non-tradables component represents approximately 60% of the weight of the CPI. The non-tradable goods component rose 0.7% mainly due to new dwelling purchase by owner-occupiers. The most significant partially offsetting falls were for gas and other household fuels and breakfast cereals. The non-tradable services component rose 0.8% mainly due to rises in domestic holiday travel and accommodation. The most significant offsetting fall in the non-tradable services component was for medical and hospital services.

Over the twelve months to the December quarter 2013, the tradables component rose 1.0% and the non-tradables component rose 3.7%. This compares to a fall of 0.1% and a rise of 3.6% respectively through the year to the September quarter 2013.

A detailed description of which expenditure classes are classified as tradable and non-tradable in the 16th series is shown in Appendix 1 of the September quarter 2011 issue of Consumer Price Index, Australia (cat. no 6401.0).


SEASONALLY ADJUSTED ANALYTICAL SERIES

In the December quarter 2013 the All groups CPI seasonally adjusted rose 0.9%, compared to the unadjusted All groups CPI which rose 0.8%.

The trimmed mean rose 0.9% in the December quarter 2013, compared to a rise of 0.7% in the September quarter 2013. Over the twelve months to the December quarter 2013, the trimmed mean rose 2.6%, compared to a rise of 2.3% over the twelve months to the September quarter 2013.

The weighted median rose 0.9% in the December quarter 2013, compared to a rise of 0.6% in the September quarter 2013. Over the twelve months to the December quarter 2013, the weighted median rose 2.6% compared to a revised rise of 2.4% over the twelve months to the September quarter 2013.

A detailed explanation of the seasonal adjustment of the All Groups CPI is available in Information Paper: Seasonal Adjustment of Consumer Price Indexes, 2011 (cat. no. 6401.0.55.003) available on the ABS website. This paper includes a description of the seasonal adjustment methodology used to calculate the trimmed mean and weighted median measures of underlying inflation.

Revisions to the seasonally adjusted estimates can be the result of the application of concurrent seasonal adjustment, described in paragraph 15 of the Explanatory Notes.


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