Australia Inflation Eases to Almost 3-Year Low in Q1

Consumer prices in Australia rose 1.3 percent through the year to the March quarter 2015 from 1.7 percent in the previous period and matching market forecasts. It is the slowest annual pace since the second quarter of 2012, mainly due to a further decline in cost of transport, communication and clothing and footwear.

Year-on-year, cost of transport  fell by 6.2 percent (from -1.9 percent in the previous quarter). Automotive fuels decreased by 22.5 percent, the largest in the history of the automotive fuel series, beginning in September 1973. Prices also declined for: communication (-4.5 percent from -3.0 percent) and clothing and footwear (-0.7 percent from -1.5). 

The most significant price rises were for: education (+5.4 percent from 4.0 percent), alcohol and tobacco (+5.2 percent from +7.4 percent),  health (+4.4 percent from +4.4 percent), housing (+2.7 percent from +2.4 percent), recreation and culture (+2.0 percent from +0.8 percent), food and non-alcoholic beverages (1.9 pewrcent from 2.0) and insurance and financial services (1.8 percent from +2.0 percent). 

Quarter-on-quarter, the consumer price index rose 0.2 percent in the March quarter 2015, the same pace as in the December quarter 2014. The most significant price rises this quarter were for: domestic holiday travel and accommodation (+3.5 percent), tertiary education (+5.7 percent) and medical and hospital services (+2.2 percent). These rises were partially offset by a fall in automotive fuel (–12.2 percent) and fruits (-8.0 percent).  

Australia Inflation Eases to Almost 3-Year Low in Q1

ABS l Rida Husna l
4/22/2015 8:42:23 AM