Consumer Price Index: Inflation Decreased 0.3%
Consumers paid 2.3 per cent more in November 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 decreased 0.3 percentage points from the 2.6 per cent measured in October 2014.
Between October and November 2014, the average cost of goods and services in the Consumer Price Index decreased 0.9 per cent. The all-items index fell to 124.9 index points in November. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $124.90.
The Health & Personal Care sector remained the largest contributor to the twelve-month rate of price increase. The annual increase in November 2014 measured 7.4 per cent.
The Transport & Vehicle sector recorded a small increase of 0.6 per cent year-over-year. Average gasoline prices fell to the lowest level since February 2011.
The full November 2014 Consumer Price Index is below [PDF here]:
Waiting to see how Alaska Hall puts a negative spin on this one. With the price of oil dropping the CPI will drop even further.