Australia Inflation Eases to 2.3% in Q3

Australian annual inflation rate slowed to 2.3 percent in the third quarter of 2014 from 3.0 percent in the previous period, driven by a fall in price of electricity, after the government removed a tax on carbon emission starting early July.

Year-on-year, the most significant price falls this quarter were for electricity (-5.1 percent) and automotive fuel (-2.5 percent). Prices were also lower for communication (-1.4 percent) and clothing and footwear (-1.0 percent).

In contrast, the most significant price rises this quarter were for fruit (+14.7 percent), new dwelling purchase by owner-occupiers (+1.1 percent), property rates and charges (+6.3 percent) and other services in respect of motor vehicles (+5.8 percent). Prices were also higher for alcohol and tobacco (+1.1 percent), mainly due to the effects of the federal excise tax increase from September 2014, and for recreation and culture (+0.6 percent).

Consumer prices rose 0.5 percent in the September quarter, compared with a rise of 0.5 percent in the June quarter.

Australia Inflation Eases to 2.3% in Q3

ABS l Rida l
10/22/2014 11:32:47 AM