Monthly CPI Indicator +6.8% Y/Y In August

The ABS notes that "the monthly CPI indicator saw annual inflation of 6.8% in August compared to 7.0% in July and 6.8% in June. The largest contributors, in the 12 months to August, were New dwelling construction, up 20.7% and Automotive fuel, up 15.0%. The slight fall in the annual inflation rate from July to August was mainly due to a decrease in prices for Automotive fuel. This saw the annual movement for Automotive fuel fall from 43.3% in June to 15.0% in August."

• "The monthly CPI indicator excluding volatile items of fruit, vegetables and fuel increased from an annual rise of 5.5% in June, to 6.2% in August."
• "Food and non-alcoholic beverages inflation increased to 9.3% in the 12 months to August with prices rising across most food categories, led by Fruit and vegetables increasing from 9.1% in June, to 18.6% in August."