$AUD Monthly Consumer Price Index Indicator Report - Score: 3 (Neutral)

consumer price index (cpi) economic policy education costs food prices health costs housing prices inflation Jun 03, 2024


$AUD Monthly Consumer Price Index Indicator Report - Score: 3 (Neutral)

About the Australian Bureau of Statistics (ABS)

The Australian Bureau of Statistics (ABS) is Australia's national statistical agency. It provides high-quality, objective statistics that inform policy decisions, support research, and enhance public understanding of economic, social, and environmental issues.

Summary of the Monthly Consumer Price Index Indicator Report

The ABS's latest report on the Monthly Consumer Price Index (CPI) Indicator for April 2024 highlights key inflation trends across various sectors:

Key Messages:

  • Overall CPI Growth: The CPI increased by 3.6% over the past 12 months.
  • Housing: Prices rose by 4.9%, driven by higher costs for labor and materials.
    • Example: If rent was $1,000 per month last year, it is now $1,049.
  • Food & Non-Alcoholic Beverages: Prices increased by 3.8%, driven by most food categories except meat and seafood.
    • Example: A $100 grocery bill last year now costs $103.80.
  • Alcohol & Tobacco: Prices surged by 6.5%.
    • Example: A $20 pack of cigarettes is now $21.30.
  • Transport: Costs increased by 4.2%, mainly due to higher fuel prices.
    • Example: Filling a tank cost $50 last year, now costs $52.10.

Hawkish/Dovish Score: 3 (Neutral)

Reasons for the Score:

  • The report indicates moderate concern about inflation but does not suggest aggressive measures like significant interest rate hikes.
  • By highlighting the steady CPI excluding volatile items, the report suggests a cautious but balanced approach to inflation.

How the Score Could Be Higher or Lower:

  • Higher (More Hawkish): Emphasizing a strong need for immediate, significant monetary tightening to control inflation.
  • Lower (More Dovish): Downplaying inflation concerns and suggesting minimal policy changes, focusing more on economic growth.


  • CPI (Consumer Price Index): A measure examining the average change in prices paid by consumers for a market basket of goods and services.
  • Hawkish/Dovish: Terms describing a central bank's stance on inflation and interest rates. "Hawkish" focuses on controlling inflation via higher interest rates; "dovish" prioritizes economic growth and employment via lower rates.

For more details, access the full report here.


Inflation, Consumer Price Index (CPI), Housing Prices, Food Prices, Health Costs, Education Costs, Economic Policy, Australian Economy

Related Chart:

Monthly CPI Indicator and Groups


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