Inflation falls to 0.5% in Sept quarter

Inflation fell to 0.5 per cent in the September quarter, matching market expectations.

The consumer price index rose 1.7 per cent in the 12 months to September 30, figures from the Australian Bureau of Statistics on Wednesday showed, rising from 1.6 per cent three months earlier.

The most significant rise in costs for the September quarter was international holiday, travel and accommodation, where prices – which are vulnerable to currency fluctuations – rose by 6.1 per cent.

Tobacco was the next biggest contributor with a 3.4 per cent rise, followed by childcare and property rates and charges – both at 2.5 per cent.

Fuel prices fell by 2.0 per cent, vegetables by 2.5 per cent and fruit by 3.1 per cent.

The Australian dollar rose from 68.51 US cents to as high as 68.66 moments after the data’s 1130 AEDT release.


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