Consumer Price Index: Inflation Increased 0.2%
Consumers paid 2.6 per cent more in October 2014 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation increased 0.2 percentage points from the 2.4 per cent measured in September 2014.
Between September and October 2014, the average cost of goods and services in the Consumer Price Index increased 0.3 per cent. The all-items index increased to 126.0 index points in October. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $126.00.
The Health & Personal Care sector remained the largest contributor to the twelve-month rate of price increase. The annual increase in October 2014 measured 7.4 per cent.
Transport & Vehicle and Food sectors also had a strong impact on the annual rate of inflation. The price movements measured in these two sectors were 4.9 per cent and 3.5 per cent, respectively.
The full October 2014 Consumer Price Index is below [PDF here]:
