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Australia Q1 CPI +0.6% Q/Q; Trimmed Mean CPI +1.1% Y/Y

AUSTRALIA DATA
MNI (Singapore)
  • Australia's Consumer Price Index (CPI) rose 0.6% q/q in Q1 2021, following 0.9% growth in Q4 2020.
  • The trimmed mean CPI rose 0.3% q/q, or 1.1% y/y in the March quarter.
  • The weighted median CPI was up 0.4% q/q, or 1.3% y/y.
  • The most significant rises in the March quarter were automotive fuel (+8.7 per cent), medical and hospital services (+1.5 per cent), and pharmaceutical products (+5.3 per cent) due to the resetting of the Medicare and Pharmaceutical Benefits Scheme safety nets.
  • The most significant price fall was Furniture (-3.0%).
  • "Higher fuel prices, compared with the low prices seen in 2020, accounted for much of the rise in the March quarter CPI." Head of Prices Statistics at the ABS, Michelle Marquardt said。
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