The ABS Cost of Living Indexes for the second quarter show something of a rebound quarter/quarter due to the unwinding of a sharp fall in the cost of transport seen in the previous quarter.
The COL Indexes are designed to answer the question “By how much would after tax money incomes need to change to allow households to purchase the same quantity of consumer goods and services that they purchased in the base period?” They consider this question for a variety of household types (given the different expenditure patterns of households). What we see in the second quarter is a slight increase in the annual rate across most household types; although Cost of Living remains well below the RBA targeted Core Inflation measure which stood at 2.4% in the first quarter and has subsequently fallen to 2.3% in Q2.
|Pensioner & beneficiary||0.2||0.6||0.9||1|
|Other Govt Transfer Recipient||0.2||0.5||1||1.1|