Australia's Inflation Rate Rises to 3.6%

Australia's Consumer Price Index rose 3.6% through the year to the June quarter 2011, compared with a rise of 3.3% through the year to March quarter 2011.

The ABS Consumer Price Index rose 0.9% in the June quarter 2011, compared with a rise of 1.6% in the March quarter 2011.

The most significant price rises this quarter were for fruit (+26.9%), automotive fuel (+4.0%), hospital and medical services (+3.4%), furniture (+6.0%) and deposit and loan facilities (+2.1%). The most significant offsetting price falls were for vegetables (–10.3%), audio, visual and computing equipment (–6.3%), electricity (–1.5%), domestic holiday travel and accommodation (–1.5%) and milk (–4.6%).

Fruit prices increased by 26.9% in the June quarter 2011 mainly due to an increase of approximately 138% in the price of bananas due to shortages created by Cyclone Yasi. Banana prices increased 470% over the six months to the June quarter 2011., Australian Bureau of Statistics
7/27/2011 11:23:05 AM