Inflation rate rises to 1.5%

  • Higher cost: on average, consumers paid more for goods and services in August than they did in July

    Higher cost: on average, consumers paid more for goods and services in August than they did in July
    (Photograph by Mario Proenca/Bloomberg)

The rate of inflation climbed to 1.5 per cent in August. That is 0.3 percentage points higher than in July.

The all-items index was 106.5 in August, which means a basket of goods and services that cost $100 in April 2015, now costs $106.50.

Year-on-year the largest contributor to the increase in the Consumer Price Index was the rent sector, which was 2 per cent higher. In addition, the food sector and the health and personal care sector were 3 per cent and 3.8 per cent higher, receptively.

On a month-by-month basis, the rent sector was 0.2 per cent higher between July and August, with the average cost of home maintenance materials increasing 1.4 per cent.

The household goods, services and supplies sector rose 0.1 per cent in August, one factor in this was an 11.3 per cent increase in the average cost of mobile phones.

Prices in the tobacco and liquor sector were 0.2 per cent higher, reflecting the increase in the average cost of spirits and wines, up 0.6 per cent and 0.4 per cent, respectively.

The food sector declined 0.1 per cent in August as the average cost of eggs, ice cream and whipping cream fell 1.5 per cent, 1 per cent and 0.5 per cent, respectively.

Prices in the education, recreation, entertainment and reading sector dipped 0.3 per cent. The average cost of pleasure crafts declined 2.9 per cent.

The transport and foreign travel sector was 1.7 per cent lower, with the average cost of premium fuels down 5.3 per cent and overseas car rentals 5.4 per cent lower.

The Consumer Price Index was released by the Department of Statistics.

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Published Nov 13, 2019 at 2:08 pm (Updated Nov 13, 2019 at 2:08 pm)

Inflation rate rises to 1.5%

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