Australian EconomyAustralian interest rates

CPI in Detail: Inflation up in smoke

Leith van Onselen
Wednesday 29 January 2020
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The Australian Bureau of Statistics (ABS) today released the Consumer Price Index (CPI) data for the December quarter 0f 2019, which registered plummeting headline and underlying inflation on weakening domestic demand.

According to the ABS, headline CPI rose by 0.7% in the December quarter, with annual growth rising to 1.8%:

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Looking at the major components, you can see that quarterly lift in CPI was driven by Alcohol & Tobacco, which surged by 3.0% (tobacco alone rose by 8.4%):

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.