Surging annual inflation - shocking price rises.Wednesday, 26...

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

Download

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