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ABS sees weaker than expected CPI
Released 29 October 2010

The Australian Bureau of Statistics reported the Consumer Price Index rose 0.7% in the September quarter 2010, compared with a rise of 0.6% in the June quarter 2010.  

The weaker than expected result casts doubt around a possible interest rate rise at the RBA’s meeting on Tuesday.

The most significant price rises this quarter were for tobacco (+7.0%), water and sewerage (+12.8%), electricity (+6.0%), property rates and charges (+6.2%) and rents (+1.1%).

Meanwhile, offsetting price falls were in automotive fuel (–3.7%), vegetables (–5.4%), pharmaceuticals (–3.9%), audio, visual and computing equipment (–2.7%) and soft drinks, waters and juices (–1.8%).

The ABS Consumer Price Index rose 2.8% through the year to September quarter 2010, compared with a rise of 3.1% through the year to June quarter 2010.