Consumer Price Index: All Items: Total for Australia
CPALTT01AUA657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.60
Year-over-Year Change
69.41%
Date Range
1/1/1950 - 1/1/2023
Summary
The Consumer Price Index (CPI) for All Items: Total for Australia measures the overall change in prices for a broad basket of consumer goods and services in Australia. It is a key indicator of inflation and a critical metric for economic policy.
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 All Items: Total tracks the prices paid by Australian consumers for a representative basket of goods and services, including food, housing, transportation, and other expenditures. It is a widely followed indicator of the cost of living and purchasing power within the Australian economy.
Methodology
The Australian Bureau of Statistics collects price data from thousands of retail and service establishments to calculate the CPI.
Historical Context
The CPI is closely monitored by the Reserve Bank of Australia and used to guide monetary policy decisions.
Key Facts
- The CPI for All Items: Total is published monthly by the Australian Bureau of Statistics.
- The base year for the Australian CPI is 2011-12.
- The CPI is a key metric used by the Reserve Bank of Australia to set interest rates.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for All Items: Total measures the overall change in prices for a broad basket of consumer goods and services in Australia.
Q: Why is this trend relevant for users or analysts?
A: The CPI is a critical indicator of inflation and purchasing power, and is closely monitored by the Reserve Bank of Australia to guide monetary policy decisions.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data from thousands of retail and service establishments to calculate the CPI.
Q: How is this trend used in economic policy?
A: The CPI is a key metric used by the Reserve Bank of Australia to set interest rates and manage inflation within the Australian economy.
Q: Are there update delays or limitations?
A: The CPI for All Items: Total is published monthly by the Australian Bureau of Statistics with a relatively short time lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: All Items: Total for Australia (CPALTT01AUA657N), retrieved from FRED.