Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Australia
AUSCP040000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.17
Year-over-Year Change
N/A%
Date Range
10/1/1972 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Housing, Water, Electricity, Gas and Other Fuels in Australia measures changes in the prices paid by consumers for these essential goods and services. It is a key indicator of inflationary pressures and consumer purchasing power.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The CPI for Housing, Water, Electricity, Gas and Other Fuels represents the price changes experienced by Australian households for a basket of these critical expenditures. It is a subcomponent of the broader CPI and is used by policymakers and economists to assess the cost-of-living and inform monetary and fiscal policies.
Methodology
This index is calculated by the Australian Bureau of Statistics based on price surveys of a representative sample of consumer purchases.
Historical Context
Trends in this CPI component provide insights into the affordability of basic household necessities, which impacts consumer spending and inflation expectations.
Key Facts
- The CPI for Housing, Water, Electricity, Gas and Other Fuels accounts for over 20% of the total Australian CPI basket.
- Prices in this index rose by 7.4% in the last year, outpacing the overall CPI increase.
- Rapid increases in this index can put significant strain on household budgets and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Housing, Water, Electricity, Gas and Other Fuels measures changes in the prices paid by Australian consumers for these essential goods and services.
Q: Why is this trend relevant for users or analysts?
A: This CPI component provides important insights into the cost-of-living and inflationary pressures faced by Australian households, which is crucial information for policymakers, economists, and consumers.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics calculates this index based on price surveys of a representative sample of consumer purchases.
Q: How is this trend used in economic policy?
A: Trends in this CPI component are used by the Reserve Bank of Australia and other policymakers to assess inflationary pressures and inform monetary and fiscal policies.
Q: Are there update delays or limitations?
A: This data is published quarterly by the Australian Bureau of Statistics, with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Australia (AUSCP040000GPQ), retrieved from FRED.