Consumer Price Index: Inflation Decreased 0.3%
Consumers paid 1.8 per cent more in June 2014 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. This level of inflation decreased 0.3 percentage points from the 2.1 per cent measured in May 2014.
Between May 2014 and June 2014, the average cost of goods and services in the Consumer Price Index was unchanged. The all-items index remained at 124.2 index points in June. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $124.20.
The Health & Personal Care sector remained the largest contributor to the twelve-month rate of price increase. The annual increase in June 2014 measured 5.9 per cent. Prescribed medicines increased 2.5 percent.
The Food and Rent sectors also impacted strongly on the annual rate of inflation. Price shifts in these two sectors were 2.9 per cent and 1.1 per cent, respectively.
The full June 2014 Consumer Price Index follows below [PDF here]:
