Australia's Inflation Rate Dips to 1.7% in Q4

Consumer prices in Australia rose 1.7% through the year to the December quarter 2014, the slowest annual pace in two-and-a-half years as petrol prices plunged.

Year-on-year, price decreases were reported for: clothing and footwear (-1.5%), communication (-3%) and transport (-1.9%). Average unleaded petrol prices reached a low of $1.17 per litre in December 2014, the lowest recorded average daily price since February 2009.

The most significant price rises were for: alocohol and tobacco (+7.4%), education (4%), health (+4.4%), housing (2.4%), food and non-alcoholic beverages (2%) and insurance and financial services (2%). 

Quarter-on-quarter, the consumer price index rose 0.2% in the December quarter 2014, following a rise of 0.5% in the September quarter 2014. The most significant price rises this quarter were for domestic holiday travel and accommodation (+5.8%), tobacco (+4.8%) and new dwelling purchase by owner-occupiers (+1.1%), These rises were partially offset by a fall in automotive fuel (–6.8%).  


1/28/2015 12:59:29 AM