Small CPI movement

Inflation for the March quarter rose 0.4% in the March quarter, compared with a rise of 0.2% in the December quarter 2012.

 

The Consumer Price Index rose 2.5% through the year to the March quarter, compared with a rise of 2.2% through the year to the December quarter 2012, according to the Australian Bureau of Statistics.

The health group rose in the March quarter 2013. The main contributors to the rise were pharmaceutical products (+7.6%) and medical and hospital services (+2.0%). The rises were mainly due to the cyclical reduction in the proportion of patients who qualify for subsidies under the Pharmaceuticals Benefit Scheme and Medicare Benefit Scheme at the start of each calendar year.

Over the 12 months to the March quarter 2013, the health group rose 6.1%, mainly due to rises in medical and hospital services (+9.3%).