Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Australia
CPGREN01AUQ657N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.27
Year-over-Year Change
49.88%
Date Range
4/1/1971 - 7/1/2023
Summary
The Consumer Price Index (CPI) for OECD Energy Groups in Australia measures changes in the prices of fuel, electricity, and gasoline. This important indicator provides insights into the cost of living and inflationary pressures in the Australian economy.
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 OECD Energy Groups in Australia is a key economic indicator that tracks the prices of essential energy commodities and services. It is widely used by policymakers, analysts, and consumers to understand the impact of energy costs on household budgets and the broader economy.
Methodology
The data is collected through surveys of consumer prices and calculated using a fixed-basket approach.
Historical Context
This trend is closely monitored by the Reserve Bank of Australia and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- Australia's CPI for Energy reached a high of 145.3 in June 2022.
- Energy costs account for approximately 10% of the total CPI basket in Australia.
- The CPI for Energy has increased by over 30% in the past year due to global supply chain disruptions.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for OECD Energy Groups in Australia measures changes in the prices of fuel, electricity, and gasoline.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides crucial insights into the cost of living and inflationary pressures in the Australian economy, which is closely monitored by policymakers and consumers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer prices and calculated using a fixed-basket approach.
Q: How is this trend used in economic policy?
A: The Reserve Bank of Australia and other institutions closely track this trend to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly with minimal delays, providing timely insights into energy price dynamics.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Energy (Fuel, Electricity, and Gasoline): Total for Australia (CPGREN01AUQ657N), retrieved from FRED.