Australia’s inflation rate has again slipped below the Reserve Bank’s target range of living costs increasing by 2-to-3 per cent over the year.
The consumer price index rose 0.4 per cent over the September quarter, or 1.9 per cent for the year.
That is a weaker inflationary pulse than the 2.1 per cent recorded previously.
The Australian Bureau of Statistics said the most significant rises over the quarter were international holiday travel and accommodation (+4.3 per cent), tobacco (+1.8 per cent), property rates and charges (+2.3 per cent), automotive fuel (+1.4 per cent) and fruit (+2.4 per cent).
These were partially offset by falls in child care (-11.8 per cent) and telecommunications equipment and services (-1.5 per cent).
“Modest rises in housing costs, including rents, utilities and property rates, and a fall in child care out-of-pocket expenses, saw a subdued rise in the CPI this quarter,” ABS chief economist Bruce Hockman said.
