CPI growth flattens
The Consumer Price Index (CPI) rose by just 0.2 per cent in the December quarter 2012, according to the latest round of data released by the Australian Bureau of Statistics (ABS).
The limited hike in prices came after a 1.4 per cent increase in the September quarter.
The largest price rises in the December quarter were for domestic holiday travel and accommodation (6.2 per cent), and rents (0.8 per cent), while most significant offsetting price falls were for vegetables (–5.7 per cent), audio, visual and computing equipment (–4.3 per cent) and pharmaceutical products (–3.5 per cent).
The CPI rose 2.2 per cent through the year to the December quarter 2012, compared with a rise of 2.0 per cent through the year to the September quarter 2012.