The monthly CPI indicator rose 3.8% in the 12 months to June, down from a 4.0% rise in the 12 months to May.
The annual movement for the monthly CPI indicator excluding volatile items and holiday travel was 4.0% in June, the same as the 4.0% rise in May. This series excludes Automotive fuel, Fruit and vegetables and Holiday travel and accommodation.
Annual trimmed mean inflation was 4.1% in June, down from 4.4% in May.
| Monthly CPI indicator (%) | Annual Trimmed mean (%) | Monthly CPI excluding volatile items* & holiday travel (%) | |
|---|---|---|---|
| Jun-20 | -0.1 | 1.2 | 0.4 |
| Jul-20 | 0.8 | 1.0 | 1.4 |
| Aug-20 | 1.1 | 1.3 | 1.3 |
| Sep-20 | 0.4 | 1.0 | 1.4 |
| Oct-20 | 0.5 | 1.3 | 1.9 |
| Nov-20 | 1.1 | 1.5 | 2.1 |
| Dec-20 | 0.3 | 1.3 | 1.8 |
| Jan-21 | 0.4 | 1.4 | 1.9 |
| Feb-21 | 1.1 | 1.1 | 1.5 |
| Mar-21 | 0.8 | 0.9 | 1.1 |
| Apr-21 | 2.5 | 0.9 | 2.1 |
| May-21 | 3.3 | 1.5 | 3.0 |
| Jun-21 | 3.5 | 1.5 | 3.4 |
| Jul-21 | 2.1 | 1.6 | 2.1 |
| Aug-21 | 2.5 | 2.0 | 2.6 |
| Sep-21 | 3.1 | 2.3 | 2.5 |
| Oct-21 | 3.0 | 2.3 | 2.0 |
| Nov-21 | 3.2 | 2.3 | 2.2 |
| Dec-21 | 3.5 | 2.7 | 2.9 |
| Jan-22 | 4.0 | 3.1 | 3.1 |
| Feb-22 | 4.9 | 3.4 | 4.1 |
| Mar-22 | 5.7 | 3.7 | 4.4 |
| Apr-22 | 5.5 | 4.0 | 4.9 |
| May-22 | 6.1 | 4.3 | 5.2 |
| Jun-22 | 6.8 | 4.5 | 5.5 |
| Jul-22 | 7.2 | 5.4 | 6.2 |
| Aug-22 | 7.2 | 5.9 | 6.6 |
| Sep-22 | 7.2 | 6.1 | 6.6 |
| Oct-22 | 7.0 | 6.1 | 7.0 |
| Nov-22 | 7.4 | 6.6 | 7.1 |
| Dec-22 | 8.4 | 7.2 | 7.2 |
| Jan-23 | 7.5 | 6.5 | 6.9 |
| Feb-23 | 6.8 | 6.5 | 6.8 |
| Mar-23 | 6.3 | 6.5 | 6.9 |
| Apr-23 | 6.7 | 6.7 | 6.5 |
| May-23 | 5.5 | 6.1 | 6.4 |
| Jun-23 | 5.4 | 6.0 | 6.1 |
| Jul-23 | 4.9 | 5.6 | 5.8 |
| Aug-23 | 5.2 | 5.6 | 5.5 |
| Sep-23 | 5.6 | 5.4 | 5.5 |
| Oct-23 | 4.9 | 5.3 | 5.1 |
| Nov-23 | 4.3 | 4.6 | 4.8 |
| Dec-23 | 3.4 | 4.0 | 4.2 |
| Jan-24 | 3.4 | 3.8 | 4.1 |
| Feb-24 | 3.4 | 3.9 | 3.9 |
| Mar-24 | 3.5 | 4.0 | 4.1 |
| Apr-24 | 3.6 | 4.1 | 4.1 |
| May-24 | 4.0 | 4.4 | 4.0 |
| Jun-24 | 3.8 | 4.1 | 4.0 |
*Volatile items are Fruit and vegetables and Automotive fuel
| Jan-24 (%) | Feb-24 (%) | Mar-24 (%) | Apr-24 (%) | May-24 (%) | Jun-24 (%) | |
|---|---|---|---|---|---|---|
| Monthly CPI indicator | 3.4 | 3.4 | 3.5 | 3.6 | 4.0 | 3.8 |
| Food & non-alcoholic beverages | 4.4 | 3.6 | 3.5 | 3.8 | 3.3 | 3.3 |
| Alcohol & tobacco | 6.7 | 6.1 | 6.1 | 6.5 | 6.7 | 6.9 |
| Clothing & footwear | 0.4 | 0.8 | 0.3 | 2.4 | 2.8 | 3.6 |
| Housing | 4.6 | 4.6 | 5.2 | 4.9 | 5.2 | 5.5 |
| Furnishings, household equipment & services | 0.3 | -0.3 | 0.1 | -0.8 | -1.1 | -1.1 |
| Health | 3.9 | 3.9 | 4.1 | 6.1 | 6.1 | 5.3 |
| Transport | 3.0 | 3.4 | 4.5 | 4.2 | 4.9 | 4.2 |
| Communications | 2.0 | 1.7 | 1.6 | 2.0 | 0.7 | 1.0 |
| Recreation & culture | -1.7 | 0.4 | -0.6 | -1.3 | 2.0 | 0.6 |
| Education | 4.7 | 5.1 | 5.2 | 5.2 | 5.2 | 5.6 |
| Insurance & financial services | 8.2 | 8.4 | 8.2 | 8.2 | 7.8 | 6.4 |
New dwellings and Rents
The annual rise in New dwelling prices was 5.4%, up from 4.9% in May, maintaining the trend of annual price growth of around 5% since August 2023. This reflects builders passing higher costs for labour and materials onto consumers.
Rental prices increased 7.1% in the 12 months to June, down from the 7.4% increase in May. Rental price growth remains high due to a tight rental market.
| Rents (%) | New dwelling purchase by own occupiers (%) | |
|---|---|---|
| Jun-20 | -1.2 | 1.0 |
| Jul-20 | -1.2 | 1.2 |
| Aug-20 | -1.5 | 1.8 |
| Sep-20 | -1.5 | 1.3 |
| Oct-20 | -1.5 | 1.4 |
| Nov-20 | -1.4 | 1.8 |
| Dec-20 | -1.4 | 1.6 |
| Jan-21 | -1.4 | 2.3 |
| Feb-21 | -1.5 | 0.9 |
| Mar-21 | -1.5 | 0.9 |
| Apr-21 | -1.5 | 0 |
| May-21 | 0 | 1.6 |
| Jun-21 | 0 | 1.9 |
| Jul-21 | 0 | 2.1 |
| Aug-21 | 0.3 | 4.1 |
| Sep-21 | 0.3 | 5.0 |
| Oct-21 | 0.3 | 5.0 |
| Nov-21 | 0.3 | 6.9 |
| Dec-21 | 0.3 | 9.6 |
| Jan-22 | 0.3 | 10.5 |
| Feb-22 | 1.0 | 13.4 |
| Mar-22 | 1.0 | 15.8 |
| Apr-22 | 1.0 | 19.3 |
| May-22 | 1.5 | 19.4 |
| Jun-22 | 1.5 | 20.7 |
| Jul-22 | 2.0 | 21.7 |
| Aug-22 | 2.4 | 20.5 |
| Sep-22 | 2.9 | 20.0 |
| Oct-22 | 3.5 | 20.4 |
| Nov-22 | 3.6 | 17.9 |
| Dec-22 | 4.1 | 16.0 |
| Jan-23 | 4.8 | 14.7 |
| Feb-23 | 4.8 | 13.0 |
| Mar-23 | 5.3 | 11.1 |
| Apr-23 | 6.1 | 9.2 |
| May-23 | 6.3 | 8.3 |
| Jun-23 | 7.3 | 6.6 |
| Jul-23 | 7.6 | 5.9 |
| Aug-23 | 7.8 | 4.8 |
| Sep-23 | 7.6 | 4.9 |
| Oct-23 | 6.6 | 4.7 |
| Nov-23 | 7.1 | 5.5 |
| Dec-23 | 7.4 | 5.1 |
| Jan-24 | 7.4 | 4.8 |
| Feb-24 | 7.6 | 4.9 |
| Mar-24 | 7.7 | 5.1 |
| Apr-24 | 7.5 | 4.9 |
| May-24 | 7.4 | 4.9 |
| Jun-24 | 7.1 | 5.4 |
Electricity
Electricity prices rose 7.5% in the 12 months to June, up from a rise of 6.5% to May.
In monthly terms, Electricity prices rose 0.1% in June 2024.
| Monthly (%) | Annual (%) | |
|---|---|---|
| Jun-23 | -0.9 | 10.2 |
| Jul-23 | 6 | 15.7 |
| Aug-23 | -1.3 | 12.7 |
| Sep-23 | 0.2 | 18 |
| Oct-23 | 3.4 | 10.1 |
| Nov-23 | 0.4 | 10.7 |
| Dec-23 | -5.7 | 0.4 |
| Jan-24 | 0.9 | 0.8 |
| Feb-24 | -0.6 | 0.3 |
| Mar-24 | 4.8 | 5.2 |
| Apr-24 | -1.9 | 4.2 |
| May-24 | 1.4 | 6.5 |
| Jun-24 | 0.1 | 7.5 |
Excluding the Energy Bill Relief Fund rebates, Electricity prices would have increased 15.5% in the 12 months to June 2024.
The following graph shows the Electricity series including and excluding government electricity rebates.
| Excluding Government Electricity Rebates (Index) | Including Government Electricity Rebates (Index) | |
|---|---|---|
| Jun-23 | 100 | 100 |
| Jul-23 | 119 | 106 |
| Aug-23 | 120 | 105 |
| Sep-23 | 120 | 105(1) |
| Oct-23 | 119 | 109(2) |
| Nov-23 | 119 | 109 |
| Dec-23 | 118 | 103(3) |
| Jan-24 | 118 | 104(4) |
| Feb-24 | 118 | 103(5) |
| Mar-24 | 118 | 108 |
| Apr-24 | 116 | 106(6) |
| May-24 | 116 | 108 |
| Jun-24 | 116 | 108(7) |
- (1)EBRF (a)↵
- (2)EBRF (b)↵
- (3)EBRF (c)↵
- (4)EBRF (d)↵
- (5)EBRF (e)↵
- (6)EBRF (f)↵
- (7)EBRF (g)↵
June 2023, index = 100
- a) Introduction of the Energy Bill Relief Fund (EBRF) for concession households in NSW, SA, TAS, NT and ACT, and for all households in QLD and WA. Introduction of additional ACT $50 rebate for concession households.
- b)Introduction of the Energy Bill Relief Fundfor concession households in VIC.
- c)Introduction of the Energy Bill Relief Fund for newly eligible householdsin NSW, SA, TAS, NT and ACT.
- d) Introduction of the Energy Bill Relief Fund for newly eligible householdsin VIC.
- e) Introduction of the second instalment of the Energy Bill Relief Fund for all households in WA.
- f) Introduction of the second instalment of Energy Bill Relief Fund for concession household in VIC.
- g) Introduction of the second instalment of the Energy Bill Relief Fund for concession and newly eligible households in TAS.
Food and non-alcoholic beverages
Food and non-alcoholic beverage prices rose 3.3% in the 12 months to June, consistent with the 3.3% rise in May. The main drivers were Food products n.e.c. (+3.7%) and Fruit and vegetables (+3.6%). Fruit and vegetables rose due to higher prices for strawberries, grapes, capsic*ms and broccoli.
Meat and seafood products recorded a partially offsetting fall (-0.2%) due to price falls for Lamb and goat over the past 12 months (-8.7%).
| April (%) | May (%) | June (%) | |
|---|---|---|---|
| Food and non-alcoholic beverages | 3.8 | 3.3 | 3.3 |
| Bread and cereal products | 5.1 | 3.4 | 3.4 |
| Meat and seafoods | -0.6 | -0.6 | -0.2 |
| Dairy and related products | 2.7 | 2.4 | 1.6 |
| Fruit and vegetables | 3.5 | 4.4 | 3.6 |
| Food products n.e.c. | 4.2 | 4.0 | 3.7 |
| Non-alcoholic beverages | 2.8 | 3.8 | 6.1 |
| Meals out & take away foods | 5.4 | 4.2 | 4.2 |
Automotive fuel
Automotive fuel prices rose 6.6% in the 12 months to June 2024, a smaller increase than the 9.3% for the year to May. The rise was driven by higher wholesale fuel prices. The decrease in annual growth this month is primarily due to the large monthly rise of 3.8% in June 2023 no longer contributing to the annual movement.
In monthly terms, Automotive fuel prices rose 1.2% in June, following a fall in May (-5.1%).
| Monthly (%) | Annual (%) | |
|---|---|---|
| Jun-20 | 9.1 | -15.3 |
| Jul-20 | 3.5 | -12.7 |
| Aug-20 | -1.0 | -12.8 |
| Sep-20 | 0.6 | -14.7 |
| Oct-20 | -0.4 | -18.2 |
| Nov-20 | -1.0 | -17.4 |
| Dec-20 | 4.6 | -14.3 |
| Jan-21 | 1.7 | -12.3 |
| Feb-21 | 2.6 | -6.9 |
| Mar-21 | 7.0 | 9.9 |
| Apr-21 | 1.7 | 32.9 |
| May-21 | -0.8 | 30.6 |
| Jun-21 | -0.3 | 19.4 |
| Jul-21 | 7.1 | 23.6 |
| Aug-21 | -0.7 | 24.0 |
| Sep-21 | 2.6 | 26.5 |
| Oct-21 | 5.4 | 33.9 |
| Nov-21 | 1.3 | 37.0 |
| Dec-21 | -3.4 | 26.5 |
| Jan-22 | 4.3 | 29.7 |
| Feb-22 | 6.0 | 34.0 |
| Mar-22 | 12.5 | 40.9 |
| Apr-22 | -13.8 | 19.4 |
| May-22 | 11.0 | 33.7 |
| Jun-22 | 6.9 | 43.2 |
| Jul-22 | -3.4 | 29.2 |
| Aug-22 | -11.5 | 15.0 |
| Sep-22 | -1.7 | 10.1 |
| Oct-22 | 7.0 | 11.8 |
| Nov-22 | 5.6 | 16.6 |
| Dec-22 | -8.1 | 10.8 |
| Jan-23 | 1.1 | 7.5 |
| Feb-23 | 4.1 | 5.6 |
| Mar-23 | -2.2 | -8.2 |
| Apr-23 | 2.9 | 9.5 |
| May-23 | -6.7 | -8.0 |
| Jun-23 | 3.8 | -10.6 |
| Jul-23 | -0.2 | -7.6 |
| Aug-23 | 9.1 | 13.9 |
| Sep-23 | 3.3 | 19.7 |
| Oct-23 | -2.9 | 8.6 |
| Nov-23 | -0.5 | 2.3 |
| Dec-23 | -5.5 | 5.3 |
| Jan-24 | -0.9 | 3.1 |
| Feb-24 | 5.1 | 4.1 |
| Mar-24 | 1.5 | 8.1 |
| Apr-24 | 2.2 | 7.4 |
| May-24 | -5.1 | 9.3 |
| Jun-24 | 1.2 | 6.6 |
Holiday travel and accommodation
Holiday travel and accommodation prices fell 0.7% in the 12 months to June, following a rise of 2.9% in the 12 months to May.The decrease in annual growth this month is primarily due to the large monthly rise of 10.9% in June 2023 no longer contributing to the annual movement.
In monthly terms, Holiday travel and accommodation prices rose 7.0% in June. The main contributor to the rise was International holiday travel (+7.8%) due to an increase in demand for holiday travel to Europe at the start of their peak tourist season.Domestic holiday travel and accommodation rose (+6.2%) reflecting high demand for accommodation at the start of the ski season and over the June long weekend.
| Monthly (%) | Annual (%) | |
|---|---|---|
| Jun-20 | -0.4 | -0.9 |
| Jul-20 | 6 | -2.9 |
| Aug-20 | -0.5 | 3.7 |
| Sep-20 | -9.1 | -7.1 |
| Oct-20 | -1.1 | -10.7 |
| Nov-20 | -0.9 | -5.7 |
| Dec-20 | 11.6 | -8.2 |
| Jan-21 | -2.6 | -9.6 |
| Feb-21 | -7.9 | -3.9 |
| Mar-21 | -1.5 | -7.1 |
| Apr-21 | 5.8 | -4.2 |
| May-21 | -6.1 | -8.3 |
| Jun-21 | 4.3 | -4 |
| Jul-21 | -1.4 | -10.7 |
| Aug-21 | -0.3 | -10.5 |
| Sep-21 | 4.5 | 2.8 |
| Oct-21 | 1.7 | 5.7 |
| Nov-21 | -4.1 | 2.3 |
| Dec-21 | 10.8 | 1.5 |
| Jan-22 | 1.9 | 6.1 |
| Feb-22 | -12.4 | 1 |
| Mar-22 | 2.3 | 5 |
| Apr-22 | 9 | 8.2 |
| May-22 | -7.5 | 6.6 |
| Jun-22 | 5.4 | 7.8 |
| Jul-22 | 3.6 | 13.3 |
| Aug-22 | -5 | 7.9 |
| Sep-22 | 9.1 | 12.6 |
| Oct-22 | -6.4 | 3.7 |
| Nov-22 | 4.3 | 12.8 |
| Dec-22 | 27 | 29.3 |
| Jan-23 | -7.2 | 17.8 |
| Feb-23 | -14.6 | 14.9 |
| Mar-23 | 1.5 | 13.9 |
| Apr-23 | 7.2 | 11.9 |
| May-23 | -11.3 | 7.3 |
| Jun-23 | 10.9 | 12.9 |
| Jul-23 | -3.3 | 5.3 |
| Aug-23 | -3.9 | 6.6 |
| Sep-23 | 4.3 | 1.9 |
| Oct-23 | -7 | 1.3 |
| Nov-23 | 2.7 | -0.3 |
| Dec-23 | 15.8 | -9.1 |
| Jan-24 | -5.2 | -7.1 |
| Feb-24 | -9.3 | -1.3 |
| Mar-24 | -1.2 | -3.9 |
| Apr-24 | 4.6 | -6.2 |
| May-24 | -2.7 | 2.9 |
| Jun-24 | 7 | -0.7 |
