Darwin sees highest CPI increase in country for June quarter | NT Independent

Darwin sees highest CPI increase in country for June quarter

by | Jul 27, 2023 | Business, News | 0 comments

Darwin’s consumer price index rose by 1.2 per cent – the highest increase of all cities for the June quarter – due in part to prevailing high commodity prices and increased services, figures released by the Department of Treasury and Finance show.

National CPI for the period in review rose by a more modest 0.8 per cent.

Darwin’s year-on-year CPI went up by 6.4 per cent in the 2022-23 fiscal year, compared to national CPI which increased by 7.0 per cent.

CPI growth in other capital cities ranged from an increase of 6.2 per cent in Perth to an increase of 7.9 per cent in Adelaide.

The largest contributor to the quarterly result for the Darwin CPI was recreation and culture, which has gone up by 1.9 per cent, contributing 0.22 percentage points; food and non-alcoholic beverage up by 1.2 per cent, adding 0.2 ppt; and furnishings, household equipment and services, which registered an uptick of 1.6 per cent, contributing 0.15 ppt.

Treasury figures show the increase in recreation was driven by holiday travel and accommodation, which increased by 3.0 per cent.

The increase in food and non-alcoholic drinks was driven by meals out and take-away food, rising by 0.9 per cent, non-alcoholic beverages up by 2.4 per cent; and fruit and vegetables up by 1.7 per cent.

The increase in furnishings, household equipment and services was driven by household services, up by 1.7 per cent; household appliances, utensils and tools, up by 2.1 per cent.

Annually, Darwin’s CPI increased 5.3 per cent, the second-lowest result of all capital cities. Yearly CPI growth in other cities ranged from 4.9 per cent in Perth to 6.9 per cent in Adelaide.

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