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AUSTRALIAN CPI REFLECTS WEAKER AUD

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AUSTRALIAN CPI REFLECTS WEAKER AUD

Oct 22 2014, 10.30am GMT

Stock.com

Consumer price index shows a 0.5 percent rise with fruit and weaker AUD as major contributors.

 

A slight increase in the CPI for three months till September will leave the 12 month inflation rate at 2.3 percent, say the Australian Bureau of Statistics.

Items up in price

Imported fruit +15%, tobacco +2.3%,

Other price hikes: House prices, property rates, vehicle charges, education, health services, food.

Reasons: Mainly due to weak AUD dollar on imports, increase on excise on tobacco, and Government taxes and fees.

Items down in price

Electricity – 5%, petrol -2.5%

Other price decreases: Telecoms equipment and charges, clothing and footwear

Reasons: Carbon tax scrapped, oil prices down, communications companies offering more data in existing packages.

AUD dipped and then recovered on the data.

AUD/USD up to 0.8788, +0.0010 (+0.11%) at 9:31:26 GMT on 22 Oct 2014

 

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