The monthly CPI indicator rose 7.3% in the twelve months to November.
The most significant price rises were Housing (+9.6 per cent), Food and non-alcoholic beverages (+9.4 per cent), Transport (+9.0 per cent), Furniture, household equipment and services (+8.4 per cent) and Recreation and culture (+5.8 per cent).
Seasonally adjusted
7.2
6.9
7.4
Trimmed mean
5.5
5.4
5.6
All groups CPI excluding volatile items*
6.8
6.4
6.7
Interesting that goods are still hotter than services. This suggests that when the downside comes it is going to be very sharp. I’m not sure why we produce a monthly CPI series without a monthly CPI number!
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
