Queensland Economic Advocacy Solutions

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Brisbane CPI up 1.7 per cent

Brisbane's CPI is up by 0.6% in the June quarter and up 1.7% over the year and compares to respective increases of 0.6 per cent and 1.6 per cent for the average of the eight Australian capital cities.

Brisbane's increase was mainly due to automotive fuel (+10.7%) but was partially offset by Electricity (-5.1%) thanks to the Affordable Energy Plan with households receiving a $50 electricity rebate.

This latest quarterly result continues the remarkable trend of stability since 2015 where CPI has had only minimal change due to what is considered to a be reluctance by businesses to increase the prices of goods and services for fear of losing market share (a reflection of reduced demand in the economy). CPI measures continue to track below the RBA target range providing further ammunition for a possible rate reduction by the Reserve Bank.

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