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Consumer Price Index - September Quarter 2013



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HON J. B. HOCKEY Treasurer

MEDIA RELEASE

Wednesday, 23 October 2013

CONSUMER PRICE INDEX - SEPTEMBER QUARTER 2013

The Consumer Price Index (CPI) rose 1.2 per cent in the September quarter 2013, following a rise of 0.4 per cent in the June quarter 2013. Headline inflation was 2.2 per cent through the year, following 2.4 per cent growth through the year to the June quarter.

Underlying inflation was 0.6 per cent in the quarter, unchanged from a rise of 0.6 per cent in the June quarter. In through-the-year terms, underlying inflation in the September quarter was 2.3 per cent, following 2.4 per cent growth through the year to the June quarter.

The release of the September Quarter CPI was also a final report card on cost of living pressures under Labor.

Since the introduction of the carbon tax, electricity prices have increased 22% and gas prices have increased 21%.

Under the period Labor was in power, electricity prices doubled, rising by 101% - including 122% in Melbourne. Gas prices rose by 71% under Labor.

For the September 2013 quarter, automotive fuel rose 7.6 per cent. Labor’s carbon tax changes were due to hit fuel for heavy vehicles from 1 July 2014, so prices for industrial users would have continued to rise.

The Coalition Government will ease the cost of living by removing the carbon tax, lock, stock and barrel. On average, abolishing the carbon tax will save households $550 next financial year.

The time is up, Labor must listen to the Australian people and immediately agree to vote in favour of abolishing the carbon tax.

[ENDS]

[Attachment A: Cost of Living under Labor Fact Sheet]