Consumer Price Index: Inflation Decreased 0.1%
Consumers paid 1.4 per cent more in January 2015 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation continued its decline as it fell 0.1 percentage points from the 1.5 per cent measured in December 2014.
Between December 2014 and January 2015, the average cost of goods and services in the Consumer Price Index was static. The all-items index remained at 124.3 index points in January. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $124.30.
Increasing 7.2 per cent in January 2015, the Health & Personal Care sector was the largest contributor to the year-over-year increase in the consumer price index.
The Food sector and Household Goods, Services & Communications sector also impacted strongly on the annual rate of inflation. Price shift in these two sectors were 3.7 per cent and 1 .4 per cent, respectively.
The full January 2015 Consumer Price Index is below [PDF here]:
