By business reporter Michael Janda Official figures show consumer prices increased by 0.5 per cent in the September quarter, with a carbon tax repeal related fall in energy costs offsetting other rises. It is the first quarter since 1999 that electricity prices have fallen in the ABS index. However, that fall in energy costs was more than offset by a surge in fruit prices, a rise in the cost of buying new dwellings, and a seasonal jump in property rates and charges. Overall, consumer prices rose 0.5 per cent in the quarter and 2.3 per cent for the year to the end of September, down from the annual inflation rate of 3 per cent recorded in June. More » |
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