The ABS today released its cost of living indices for the September quarter, which rebounded after the December quarter’s decline:
According to the ABS:
Child care was the main contributor for three of the five population sub-groups following the end of free child care on 13 July.
This was followed by automotive fuel increasing across all population sub-groups due to a partial recovery in world oil consumption and reduction in global oil production putting upward pressure on fuel prices.
Indeed, differences across the population subgroups quarterly movements are largely explained by the weight of child care and automotive fuel, both of which increased in the September quarter:
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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