Australia Inflation Rate Steady at 1.5% in Q3

Consumer prices in Australia rose 1.5 percent through the year to the September quarter 2015, the same pace as in the previous period and below market consensus. An increase in cost of housing and a slower drop in cost of transport offset a sharp slowdown in prices of food and non-alcoholic beverages.

Year-on-year, cost increased for: food and non-alcoholic beverages (+0.2 percent from +1.3 percent in the preceding quarter); alcohol and tobacco (+5.0 percent from +4.8 percent); housing (+2.7 percent from +2.5 percent); furnishing, household equipment and services (+1.8 percent from +1.4 percent); health (+4.8 percent from +4.3 percent); recreation and culture (+1.1 percent from +0.9 percent); education (+5.5 percent from +5.4 percent) and insurance and financial services (+2.0 percent from +2.1 percent). In contrast, prices declined for: transport (-2.2 percent from -2.4 percent in the previous quarter), communication (-4.1 percent from -3.4 percent) and clothing and footwear (-1.0 percent from -0.9 percent). 

For 2015, the country's annual inflation is expected to be between 2.0 percent to 3.0 percent. 

Quarter-on-quarter, the consumer price index rose 0.5 percent in the September quarter 2015, slowing from 0.7 percent in the June quarter. The most significant price rises this quarter were international holiday travel and accommodation (+4.6 percent), fruit (+8.2 percent) and property rates and charges (+4.6 percent). These rises were partially offset by falls in vegetables (-5.9 percent), telecommunication equipment and services (-2.0 percent) and automotive fuel (-1.7 percent).

Australia Inflation Rate Steady at 1.5% in Q3

ABS l Rida Husna |
10/28/2015 10:28:45 AM