August CPI in Australia: price increases and new subsidies
September 25, 2024
Australia’s CPI (Consumer Price Index) rose by 2.7% in the 12 months to August. The largest increases were in the categories of housing costs (+2.6%), food and non-alcoholic beverages (+3.4%) and alcohol and tobacco (+6.6%). The annual increase was partly offset by a 1.1% decrease in transport costs. New this month were the Commonwealth Energy Bill Relief Fund rebates and state government subsidies, which will be applied in some states beginning July 2024. In August, Commonwealth subsidies were applied in all states and territories.