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Queensland Economic Advocacy Solutions

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Modest increase in Brisbane CPI for the December Quarter 2018

Brisbane's CPI rose by a modest 0.5 per cent in the December Quarter 2018 and by 1.5 per cent over the year to the December quarter 2018.  This increase is down from the 1.8 per cent in the 12 months to the September quarter 2018. Given that there is correlation between economic activity and the CPI, the modest result for Brisbane is indicative of growth in our economy remaining below trend.

Nationally CPI rose 0.5 per cent during the quarter, compared with a rise of 0.4% in the September quarter 2018 and it rose 1.8 per cent over the twelve months to the December quarter 2018, compared with a rise of 1.9 per cent over the twelve months to the September quarter 2018.

The All groups CPI rose in all eight capital cities over the 12 months to the December quarter, with Hobart (+3.0%), Canberra (+2.5%), and Melbourne (+2.0%) recording the largest movements.  

The main contributors to the rise in Brisbane's CPI in the December quarter were: tobacco (+9.9%), domestic holiday travel and accommodation (+4.7%) and electricity (+4.0%). The rise was partially offset by a fall in automotive fuel (-3.3%) which was the second largest fall across all capital cities.

As an aside the latest CPI confirms why many Queensland households are feeling cost of living pressures. The top 20 components that have increased the most over the past decade comprise of every day living essentials.

Finally, I can understand audio visual and computing equipment decreasing in price over the past decade - but milk decreasing in price by nearly 20 per cent is a national disgrace.

 

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