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CPI for housing group 'rose 0.6% in Q4 2010'

An increase of 0.6 per cent was seen in the Consumer Price Index (CPI) for the housing group in the final quarter of last year.

The Consumer Price Index (CPI) for the housing group in Australia increased by 0.6 per cent in the fourth quarter (Q4) of 2010.

This is according to figures from the Reserve Bank of Australia, which highlighted that the increase for all groups in the period was just 0.4 per cent.

Over the whole year, these increases were two per cent for housing and 2.7 per cent for all groups.

The Real Estate Institute of Australia (REIA) said that the increase in housing was caused by "substantial increases" in the price of utilities.

Electricity rose by 12.5 per cent, water and sewerage by 12.8 per cent, and 7.1 per cent for gas and other household fuels.

Property rates and charges also increased by 6.2 per cent over 2010.

Last month, the REIA welcomed the Australian Bureau of Statistics' announcement of changes to the CPI but claimed that further amendments should have been made.

Posted by Steve Douglas

- cpi, inflation, housing, property

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