Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels: Total for Australia
AUSCP040500GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.30
Year-over-Year Change
-596.69%
Date Range
10/1/1989 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Housing, Water, Electricity, Gas and Other Fuels in Australia measures changes in the prices of these essential household expenses. This key economic indicator is closely watched by policymakers to assess inflation and cost-of-living pressures.
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 Electricity, Gas and Other Fuels is a subcomponent of the broader Housing CPI, providing detailed insight into changes in energy and utility costs for Australian consumers. This metric is used to inform monetary policy decisions and analyze the overall price dynamics in the Australian economy.
Methodology
The Australian Bureau of Statistics collects price data from a representative sample of household purchases to calculate this CPI component.
Historical Context
Trends in the Electricity, Gas and Other Fuels CPI are relevant for understanding household budgets, inflationary pressures, and the broader economic conditions in Australia.
Key Facts
- Electricity, gas and other fuels account for around 3.5% of the total Australian CPI basket.
- The Electricity, Gas and Other Fuels CPI has risen by an average of 3.5% annually over the past decade.
- Fluctuations in this CPI component can significantly impact household budgets and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Electricity, Gas and Other Fuels measures changes in the prices paid by Australian consumers for these essential household utilities and energy sources.
Q: Why is this trend relevant for users or analysts?
A: Tracking changes in this CPI component is crucial for understanding overall inflationary pressures, assessing the cost of living, and informing monetary policy decisions in Australia.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data from a representative sample of household purchases to calculate this CPI subindex.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use the Electricity, Gas and Other Fuels CPI to gauge inflationary pressures and make informed decisions about monetary policy and other economic interventions.
Q: Are there update delays or limitations?
A: This CPI data is published quarterly by the Australian Bureau of Statistics, with a typical 1-2 month delay from the end of the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Electricity, Gas and Other Fuels: Total for Australia (AUSCP040500GPQ), retrieved from FRED.