Fruity Inflation at 3.9%
The price of fruit rose 20.5% during the September quarter giving annual CPI inflation a 0.31% boost to 3.9%pa. The CPI was released today by the ABS. The September quarter rise in CPI for Australia was 0.9%.
Over the year to September, biggest rise was in the Food group at 9.9%, while one group actually posted a fall in price (Clothing and Footwear down 1.8% - made in China no doubt). Average price inflation since 1901 is - wait for it - 3.9%. We are bang on long term average! In FinDem's Research Centre you will find long term price inflation series under 'Family Budget' in Dataseries Graphing and under Inflation Calculators as 'Price Inflation'.
Posted Wednesday, 25 October 2006
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