Inflation up 1.4%

The Consumer Price Index rose 1.4% in the September quarter 2012, compared with a rise of 0.5% in the June quarter 2012. The most significant price rises in the September quarter 2012 were for electricity (+15.3%), international holiday travel and accommodation (+6.6%), medical and hospital services (+4.5%), vegetables (+10.5%) and gas and other household fuels (+14.2%). The most significant offsetting price falls were for automotive fuel (–3.9%), motor vehicles (–1.0%), pharmaceutical products (–2.6%), domestic holiday travel and accommodation (–1.3%) and other financial services (–0.9%).
The CPI rose 2.0% through the year to the September quarter 2012, compared with a rise of 1.2% through the year to the June quarter 2012. This is the largest quarterly rise since the March quarter 2011 (+1.4%) and the largest annual rise since the December quarter 2011 (+3.0%).