Free Trial

Australia Q4 CPI +0.9% Q/Q; Trimmed Mean CPI +1.2% Y/Y

AUSTRALIA DATA
MNI (Singapore)
  • Australia's Consumer Price Index (CPI) rose 0.9% q/q in Q4, following 1.6% growth in Q3 2020.
  • CPI rose 0.9% y/y in the December quarter.
  • Trimmed mean CPI rose 0.4% q/q, or 1.2% y/y in the December quarter.
  • Weighted median CPI was up 0.5% q/q, or 1.4% y/y.
  • The most significant price rises in the December quarter were tobacco (+10.9%), following the 12.5% increase in the tobacco excise tax, and child care (+37.7%), after the unwinding of free child care, with out-of-pocket expenses now returning to pre-COVID levels.
  • Head of Prices Statistics at the ABS, Michelle Marquardt said: "The December quarter CPI was primarily impacted by an increase in tobacco excise and the introduction, continuation and conclusion of a number of government schemes, including childcare fee subsidies and home building grants."

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.