Consumer price index rises 0.8 per cent in December quarter
THE price of Australian goods and services rose 0.8 per cent in the December quarter, according to ABS figures out today.
Economy
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THE price of Australian consumer goods and services rose 0.8 per cent in the December quarter.
The consumer price index (CPI), a key measure of inflation, rose 2.7 per cent in the year to December, the Australian Bureau of Statistics said on Wednesday.
The headline CPI was expected to rise by 0.5 per cent in the December quarter for an annual rate of 2.5 per cent, according to an AAP survey of 14 economists.
The ABS said seasonally adjusted CPI rose 0.9 per cent in the December quarter, and was up 2.6 per cent in the 12 months to December.
The ABS calculates the trimmed mean and weighted median measures on behalf of the Reserve Bank of Australia, which uses them to gauge the underlying trend in inflation.
The trimmed mean CPI rose 0.9 per cent in the December quarter, for an annual growth rate of 2.6 per cent.
The weighted median CPI rose 0.9 per cent in the December quarter, for an annual rise of 2.6 per cent.
The RBA has a target range for annual inflation of two to three per cent, and the latest figures will inform its February interest rate decision.
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