Surging annual inflation - shocking price rises.
Wednesday, 26 June 2024
Petrol up 9.3%
Tobacco up 13.4%
Rents up 7.4%
Insurance up 7.8%
Overall inflation - out of control at 4% and surging.
Key statistics
- The monthly CPI indicator rose 4.0% in the 12 months to May.
- The most significant price rises were Housing (+5.2%), Food and non-alcoholic beverages (+3.3%), Transport (+4.9%) and Alcohol and tobacco (+6.7%).
Main features
Weighted average of eight capital cities, annual movement
Weighted average of eight capital cities, annual movement Mar 23 to Mar 24 % change Apr 23 to Apr 24 % change May 23 to May 24 % change All groups monthly CPI 3.5 3.6 4.0 Food and non-alcoholic beverages 3.5 3.8 3.3 Bread and cereal products 7.3 5.1 3.4 Meat and seafood -0.9 -0.6 -0.6 Dairy and related products 2.9 2.7 2.4 Fruit and vegetables -1.2 3.5 4.4 Food products n.e.c. 4.0 4.2 4.0 Non-alcoholic beverages 5.5 2.8 3.8 Alcohol and tobacco 6.1 6.5 6.7 Alcohol 2.7 3.1 3.4 Tobacco 12.4 13.0 13.4 Clothing and footwear 0.3 2.4 2.8 Garments 1.7 2.1 2.9 Housing 5.2 4.9 5.2 Rents 7.7 7.5 7.4 New dwelling purchases by owner-occupiers 5.1 4.9 4.9 Electricity 5.2 4.2 6.5 Gas and other household fuels -2.9 -3.5 -3.9 Furnishings, household equipment and services 0.1 -0.8 -1.1 Health 4.1 6.1 6.1 Transport 4.5 4.2 4.9 Automotive fuel 8.1 7.4 9.3 Communications 1.6 2.0 0.7 Recreation and culture -0.6 -1.3 2.0 Holiday travel and accommodation -3.9 -6.2 2.9 Education 5.2 5.2 5.2 Insurance and financial services 8.2 8.2 7.8 CPI analytical series Seasonally adjusted 3.8 3.8 4.1 CPI excluding volatile items** and holiday travel 4.1 4.1 4.0 Annual Trimmed mean 4.0 4.1 4.4
