Price indexes and inflation

• The Consumer Price Index (CPI) rose 0.2% this quarter.
• Over the twelve months to the September 2024 quarter, the CPI rose 2.8%.
• The most significant price rises this quarter were Recreation and culture (+1.3%), Food and non-alcoholic beverages (+0.6%), and Alcohol and tobacco (+1.3%).

• The seasonally adjusted WPI rose 0.8% this quarter and 3.5% over the year.
• Both the private sector and the public sector rose 0.8%, seasonally adjusted, for the quarter.
• In original terms, the largest industry contributors to quarterly wages growth were Healthcare and social assistance (+1.7%), Retail trade (+2.1%), and Administrative and support services (+2.1%).

Final demand (excluding exports)

• Rose 1.0% this quarter.
• Rose 3.9% over the past twelve months.

• The total value of residential dwellings in Australia rose by $156.3 billion to $11,093.8 billion this quarter.
• The number of residential dwellings rose by 53,100 to 11,252,600 this quarter.
• The mean price of residential dwellings rose by $9,300 to $985,900 this quarter.

• The monthly CPI indicator rose 2.1% in the 12 months to October.
• The most significant price rises at the Group level were Food and non-alcoholic beverages (+3.3%), Recreation and culture (+4.3%), and Alcohol and tobacco (+6.0%). Partly offsetting the annual increases in other Groups was Transport (-2.8%). 

• All five Living Cost Indexes (LCIs) rose between 0.3% and 0.6% in the September 2024 quarter.
• Insurance and financial services and Recreation and culture were the main contributors to quarterly rises across all LCIs. These increases were offset by falls in Electricity and Automotive fuel prices.
• Over the twelve months to the September 2024 quarter, the LCIs rose between 2.8% and 4.7%.

• Export price index fell 4.3% this quarter and 6.8% through the year.
• Import price index fell 1.4% this quarter and 1.1% through the year.

This article details the 2024 weight update for the Consumer Price Index and Selected Living Cost Indexes

The weighted average of the eight capital cities Residential Property Price Index:

• rose 4.7% this quarter.
• rose 23.7% over the last twelve months.

The total value of residential dwellings in Australia rose $512.6b to $9,901.6b this quarter, and the mean price of residential dwellings rose $44,000 to $920,100.

Promotes understanding of the Consumer Price Index (CPI) as a measure of household inflation, how's it measured and how it's used

This publication provides the correspondence between the expenditure classes of the 17th series CPI and the Household Expenditure Classification