Consumer Price Index - December 2024 Qtr
Extracted from the ABS - Consumer Price Index released on Wednesday, 29 January 2025, for the December 2024 Quarter.
Key statistics
- The Consumer Price Index (CPI) rose 0.2% this quarter.
- Over the twelve months to the December 2024 quarter, the CPI rose2.4%.
- Partially offsetting the rise was Transport (-0.7%)
Main features - weighted average of eight capital cities
September Qtr 2024 to December Qtr 2024 - All Groups CPI: 0.2% | Transport: -0.7%
December 2023 to December 2024 - All Group CPI: 2.4% | Transport: -1.5%
Annual CPI inflation increases
Annual CPI inflation was 2.4 per cent in the December quarter, down from 2.8 per cent in the September quarter. The main reasons for lower CPI inflation were due to a fall in prices included automotive fuels.
Transport group (-0.7%)
The main contributors to the fall were Automotive fuel (-2.0%), Other services in respect of motor vehicles (-1.1%) and Urban transport fares (-3.2%). Other services in respect of motor vehicles fell (-1.1%) due to the 20% reduction in motor vehicle registration fees introduced by the Queensland government from 16 September 2024.
Over the past twelve months, the group fell 1.5%. Automotive fuel (-7.9%) and Urban transport fares (-4.3%) were the main contributors.
The full Consumer Price Index report for December Qtr 2024 can be found here.
Monthly CPI Indicator
The December 2024 monthly consumer price index report can be found here.
