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
November 2022
Released
11/01/2023

Key statistics

  • The monthly CPI indicator rose 7.3% in the twelve months to November.
  • The most significant price rises were Housing (+9.6 per cent), Food and non-alcoholic beverages (+9.4 per cent), Transport (+9.0 per cent), Furniture, household equipment and services (+8.4 per cent) and Recreation and culture (+5.8 per cent).

What's new this month

Four additional monthly data series have been included under the Food and non-alcoholic beverages group:

  1. Bread and cereal products
  2. Dairy and related products
  3. Food products n.e.c.
  4. Non-alcoholic beverages

Main features

Weighted average of eight capital cities - annual
 

Sept 21 to Sept 22

% change

Oct 21 to Oct 22

% change

Nov 21 to Nov 22

% change

All groups CPI7.36.97.3
Food and non-alcoholic beverages9.68.99.4
     Bread and cereal products11.812.012.0
     Meat & seafood7.67.98.1
     Dairy and related products13.614.415.3
     Fruit & vegetables17.49.49.5
     Food products n.e.c.10.610.910.9
     Non-alcoholic beverages10.411.211.0
Alcohol and tobacco4.64.34.3
     Alcohol3.93.64.2
     Tobacco5.65.44.6
Clothing and footwear7.15.74.1
Housing10.310.59.6
     Rents2.93.53.6
     New dwelling purchases by owner-occupiers20.020.417.9
Furnishings, household equipment and services7.77.88.4
Health2.82.63.6
Transport6.87.49.0
     Automotive fuel10.111.816.6
Communications2.01.90.7
Recreation and culture5.32.35.8
     Holiday travel and accommodation12.63.712.8
Education4.54.54.6
Insurance and financial services4.24.24.8
CPI analytical series   
       Seasonally adjusted7.26.97.4
       Trimmed mean5.55.45.6
       All groups CPI excluding volatile items*6.86.46.7

 

*Volatile items are Fruit and vegetables and Automotive fuel

Monthly Overview

New dwelling prices and rents drive the increase in housing

New dwelling prices rose 17.9% in the year to November as builders passed through higher costs for labour and materials. The rate of price growth eased in November compared to the 20.4% annual rise in October. Fewer payments of government construction grants compared to November 2021 also contributed to the rise in new dwelling prices.

Rent prices increased further this month from an annual rise of 3.5% in October to 3.6% in November, reflecting a tight rental market.

High input costs and supply issues impact food prices

Over the twelve months to November price rises were seen across all food categories. These rises reflect a range of price pressures including supply chain issues and increased input costs.

The main contributor to the annual rise was Meals out and take away foods, which rose 7.3% due to rising input costs, fresh food supply issues and labour shortages.

Fruit and vegetables rose 9.5% in the year to November. This subgroup continues to be impacted by flooding, heavy rainfall and hail in key growing areas, alongside high transport and fertiliser costs. 

Food and non-alcoholic beverages subgroups, annual movement (%), ordered by largest contributors to the Food and non-alcoholic beverages group

Food and non alcoholic beverages subgroups annual percentage movement (%)

Food and non alcoholic beverages subgroups, Annual percentage change (%), ordered by percentage contribution to the Food and non alcoholic beverages group:

  • Meals out & take away foods, 7.3% annual
  • Food products n.e.c, 10.9% annual
  • Fruit and vegetables, 9.5% annual
  • Meat and seafoods, 8.1% annual
  • Bread and cereal products, 12.0% annual
  • Dairy and related products, 15.3% annual
  • Non alcoholic beverages, 11.0% annual

*Quarterly index, price updated in Nov (month2) – more information

Higher excise tax increases automotive fuel prices

Automotive fuel prices increased 16.6% in the twelve months to November, up from 11.8% in October.

The restoration of the Australian Government’s fuel excise on 29 September contributed to higher prices for automotive fuel in October and early November as the increase in fuel excise started to filter through as petrol stations used up their existing fuel reserves. Average prices for unleaded petrol peaked at $2.01 in early November before falling approximately 22 cents by the end of November.

Furniture, household equipment and services

The Furniture, household equipment and services group rose 8.4% in the year to November. Higher freight and raw material costs recorded in mid 2022 contributed to price rises for furniture.

Non-durable household products contributed to the rise, driven by price increases for cleaning and maintenance products.

Holiday travel and accommodation

Holiday travel and accommodation prices rose 12.8% in the year to November, up from 3.7% in October. High jet fuel prices and strong travel demand throughout 2022, compared to COVID-19 affected 2021, have contributed to higher prices for airfares and accommodation. 

In monthly terms, November’s increase of 4.3% varies from the falls usually seen in November, reflecting strong consumer demand for domestic accommodation and domestic and international airfares.

Data downloads

TABLE 1. Monthly CPI Indicator: All groups, Groups and select Expenditure classes

Analytical series Australia, Index Numbers and Percentage Change from Corresponding Month of Previous Year, Weighted Average of Eight Capital Cities

TABLE 2. Monthly CPI Indicator: Select Groups, select Expenditure classes and Analytical series

Analytical series, Australia, Percentage Change from previous period, Weighted Average of Eight Capital Cities

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Data explorer for the monthly CPI indicator.

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Appendix

Annual weight update

About the monthly CPI indicator

What is the monthly CPI Indicator?

What's price updated - monthly breakdown

Articles

Measuring Rents in the CPI 

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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