Consumer Price Index increases 0.5%

According to the latest figures released by the Australian Bureau of Statistics, the Consumer Price Index rose 0.5 per cent in the December quarter of 2009, compared to a one per cent rise in the September quarter.

The ABS confirmed that the annual CPI rose 2.1 per cent through the year to December quarter 2009, compared to an annual rise of 1.3 per cent to September quarter 2009.

The most significant price rises this quarter were for fruit (15.9 per cent), domestic holiday travel and accommodation (6.6 per cent), house purchase (1 per cent), rent (1 per cent), and beer (2.1 per cent).

The most significant price falls were automotive fuel (-2.8 per cent), pharmaceuticals (-5.3 per cent) and audio, visual and computing equipment (-7.1 per cent).

Household contents and services remained steady for the quarter. Furniture (1.4 per cent), tools (1.3 per cent) and hairdressing and personal care (0.9 per cent) products all demonstrated growth but this was offset by major household appliances (-2.8 per cent), glassware, tableware and household utensils (-1.3 per cent) and toiletries and personal products (-0.6 per cent), which all saw decreases.

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