Monthly Consumer Price Index Indicator, April 2024 (2024)

The monthly CPI indicator rose 3.6% in the 12 months to April, following a 3.5% rise in the 12 months to March.

The annual movement for the monthly CPI indicator excluding volatile items and holiday travel was 4.1% in April, unchanged from March. This series excludes Fruit and vegetables, Automotive fuel, and Holiday travel and accommodation.

Annual trimmed mean inflation was 4.1% in April, up slightly from 4.0% in March.

Monthly CPI indicator, Australia, annual movement (%)
Monthly CPI indicator (%)Annual Trimmed mean (%)Monthly CPI excluding volatile items* & holiday travel (%)
Apr-200.11.31.2
May-20-0.21.30.6
Jun-20-0.11.20.4
Jul-200.81.01.4
Aug-201.11.31.3
Sep-200.41.01.4
Oct-200.51.31.9
Nov-201.11.52.1
Dec-200.31.31.8
Jan-210.41.41.9
Feb-211.11.11.5
Mar-210.80.91.1
Apr-212.50.92.1
May-213.31.53.0
Jun-213.51.53.4
Jul-212.11.62.1
Aug-212.52.02.6
Sep-213.12.32.5
Oct-213.02.32.0
Nov-213.22.32.2
Dec-213.52.72.9
Jan-224.03.13.1
Feb-224.93.44.1
Mar-225.73.74.4
Apr-225.54.04.9
May-226.14.35.2
Jun-226.84.55.5
Jul-227.25.46.2
Aug-227.25.96.6
Sep-227.26.16.6
Oct-227.06.17.0
Nov-227.46.67.1
Dec-228.47.27.2
Jan-237.56.56.9
Feb-236.86.56.8
Mar-236.36.56.9
Apr-236.76.76.5
May-235.56.16.4
Jun-235.46.06.1
Jul-234.95.65.8
Aug-235.25.65.5
Sep-235.65.45.5
Oct-234.95.35.1
Nov-234.34.64.8
Dec-233.44.04.2
Jan-243.43.84.1
Feb-243.43.93.9
Mar-243.54.04.1
Apr-243.64.14.1

*Volatile items are Fruit and vegetables and Automotive fuel

Monthly CPI Indicator and Groups, Australia, annual movement (%)
Nov-23 (%)Dec-23 (%)Jan-24 (%)Feb-24 (%)Mar-24 (%)Apr-24 (%)
Monthly CPI indicator4.33.43.43.43.53.6
Food & non-alcoholic beverages4.64.04.43.63.53.8
Alcohol & tobacco6.46.86.76.16.16.5
Clothing & footwear-0.9-0.80.40.80.32.4
Housing6.65.24.64.65.24.9
Furnishings, household equipment & services-0.3-0.30.3-0.30.1-0.8
Health5.24.73.93.94.16.1
Transport3.63.63.03.44.54.2
Communications2.42.02.01.71.62.0
Recreation & culture1.2-2.4-1.70.4-0.6-1.3
Education4.84.74.75.15.25.2
Insurance & financial services8.88.28.28.48.28.2

New dwellings and Rents

New dwelling prices rose 4.9% in the 12 months to April, maintaining a consistent annual price growth of around 5% for the past nine months. The increase in New dwelling prices reflects builders continuing to pass on higher costs for labour and materials.

Rental prices increased 7.5% in the 12 months to April, down from 7.7% in March, which continues to reflect strong demand for rental properties and tight rental markets.

In monthly terms, rental prices rose 0.5% in April, down from a 0.6% rise in March. Commonwealth Rent Assistance (CRA) increased from 20 March 2024, which has the effect of reducing rents for eligible tenants. March included a partial impact of the CRA changes with the remaining impact of the CRA changes reflected in April. Excluding the CRA increases in March and April, Rents would have risen by 0.7% in both months.

New dwellings and Rents, Australia, annual movement (%)
Rents (%)New dwelling purchase by own occupiers (%)
Apr-200.20.7
May-20-1.20.6
Jun-20-1.21.0
Jul-20-1.21.2
Aug-20-1.51.8
Sep-20-1.51.3
Oct-20-1.51.4
Nov-20-1.41.8
Dec-20-1.41.6
Jan-21-1.42.3
Feb-21-1.50.9
Mar-21-1.50.9
Apr-21-1.50
May-2101.6
Jun-2101.9
Jul-2102.1
Aug-210.34.1
Sep-210.35.0
Oct-210.35.0
Nov-210.36.9
Dec-210.39.6
Jan-220.310.5
Feb-221.013.4
Mar-221.015.8
Apr-221.019.3
May-221.519.4
Jun-221.520.7
Jul-222.021.7
Aug-222.420.5
Sep-222.920.0
Oct-223.520.4
Nov-223.617.9
Dec-224.116.0
Jan-234.814.7
Feb-234.813.0
Mar-235.311.1
Apr-236.19.2
May-236.38.3
Jun-237.36.6
Jul-237.65.9
Aug-237.84.8
Sep-237.64.9
Oct-236.64.7
Nov-237.15.5
Dec-237.45.1
Jan-247.44.8
Feb-247.64.9
Mar-247.75.1
Apr-247.54.9

Electricity

Electricity prices rose 4.2% in the 12 months to April, down from a rise of 5.2% to March.

The fall in annual growth is due to the introduction of the second instalment of the Energy Bill Relief Fund rebates for eligible households in Hobart this month. This led to a 1.9% fall in Australia level Electricity prices in monthly terms.

Electricity, Australia, monthly and annual movement (%)
Monthly (%)Annual (%)
Apr-23-0.915.2
May-23-0.814.1
Jun-23-0.910.2
Jul-23615.7
Aug-23-1.312.7
Sep-230.218
Oct-233.410.1
Nov-230.410.7
Dec-23-5.70.4
Jan-240.90.8
Feb-24-0.60.3
Mar-244.85.2
Apr-24-1.94.2

Energy Bill Relief Fund rebates introduced from July 2023 have moderated the increase in electricity bills for households across Australia.

Excluding the Energy Bill Relief Fund rebates, Electricity prices would have increased 13.9% in the 12 months to April 2024.

The following graph shows the Electricity series including and excluding government electricity rebates.

Electricity index, Australia, index number (April 2023 = 100.0)
Excluding Government Electricity Rebates (Index)Including Government Electricity Rebates (Index)
Apr-23100100
May-239999
Jun-239898
Jul-23117104(1)
Aug-23118103(2)
Sep-23118103
Oct-23117106(3)
Nov-23117106(4)
Dec-23116101(5)
Jan-24116102
Feb-24116101(6)
Mar-24116106
Apr-24114104(7)
  • (1)EBRF (a)
  • (2)EBRF (b)
  • (3)EBRF (c)
  • (4)EBRF (d)
  • (5)EBRF (e)
  • (6)EBRF (f)
  • (7)EBRF (g)

April 2023, index = 100

  • a) Introduction of the Energy Bill Relief Fund (EBRF) for concession households in NSW, SA, TAS, NT and ACT, and for all households in QLD and WA. Introduction of additional ACT $50 rebate for concession households.
  • b)Introduction of the Energy Bill Relief Fundfor concession households in VIC.
  • c)Introduction of the Energy Bill Relief Fund for newly eligible householdsin NSW, SA, TAS, NT and ACT.
  • d) Introduction of the Energy Bill Relief Fund for newly eligible householdsin VIC.
  • e) Introduction of the second instalment of the Energy Bill Relief Fund for all households in WA.
  • f) Introduction of the second instalment of Energy Bill Relief Fund for concession household in VIC.
  • g) Introduction of the second instalment of the Energy Bill Relief Fund for concession and newly eligible households in TAS.

Food and non-alcoholic beverages

Food and non-alcoholic beverage prices rose 3.8% in the 12 months to April, up from a rise of 3.5% to March, mainly due to a rise in Fruit and vegetable prices following an annual fall of 1.2% to March.

Food products n.e.c. (+4.2%), Bread and cereal products (+5.1%) and Non-alcoholic beverages (+2.8%) also contributed to the rise. Meat and seafood products recorded a partially offsetting fall (-0.6%) due to large price falls for Lamb and goat over the last 12 months (-12.5%).

Food and non-alcoholic beverages, Australia, annual movement (%)
Annual (%)
Food & non-alcoholic beverages3.8
Bread and cereal products5.1
Meat and seafoods-0.6
Dairy and related products2.7
Fruit and vegetables3.5
Food products n.e.c.4.2
Non-alcoholic beverages2.8
Meals out and take away foods5.4

Automotive fuel

Automotive fuel prices rose 7.4% in the 12 months to April, down from a rise of 8.1% to March. The rise was driven by higher wholesale fuel prices.

In monthly terms, Automotive fuel prices rose 2.2% in April, the third consecutive monthly rise.

Automotive fuel, Australia, monthly and annual movement (%)
Monthly (%)Annual (%)
Apr-20-15.9-25.6
May-200.9-26.1
Jun-209.1-15.3
Jul-203.5-12.7
Aug-20-1.0-12.8
Sep-200.6-14.7
Oct-20-0.4-18.2
Nov-20-1.0-17.4
Dec-204.6-14.3
Jan-211.7-12.3
Feb-212.6-6.9
Mar-217.09.9
Apr-211.732.9
May-21-0.830.6
Jun-21-0.319.4
Jul-217.123.6
Aug-21-0.724.0
Sep-212.626.5
Oct-215.433.9
Nov-211.337.0
Dec-21-3.426.5
Jan-224.329.7
Feb-226.034.0
Mar-2212.540.9
Apr-22-13.819.4
May-2211.033.7
Jun-226.943.2
Jul-22-3.429.2
Aug-22-11.515.0
Sep-22-1.710.1
Oct-227.011.8
Nov-225.616.6
Dec-22-8.110.8
Jan-231.17.5
Feb-234.15.6
Mar-23-2.2-8.2
Apr-232.99.5
May-23-6.7-8.0
Jun-233.8-10.6
Jul-23-0.2-7.6
Aug-239.113.9
Sep-233.319.7
Oct-23-2.98.6
Nov-23-0.52.3
Dec-23-5.55.3
Jan-24-0.93.1
Feb-245.14.1
Mar-241.58.1
Apr-242.27.4

Health

Health rose 6.1% in the 12 months to April, up from 4.1% in the 12 months to March.

Medical and hospital services is the main contributor to the rise, with a 7.3% annual rise in April following a 4.6% rise in March. The added strength this month reflects a rise in health insurance premiums which increased on 1 April.

Holiday travel and accommodation

Holiday travel and accommodation prices fell 6.2% in the 12 months to April, following a fall of 3.9% to March.

In monthly terms, Holiday travel and accommodation prices rose 4.6% in April, the first monthly rise since December 2023. The main contributor to the rise was International holiday travel and accommodation reflecting higher demand for international travel over the Easter and school holiday periods.

Holiday travel and accommodation, Australia, monthly and annual movement (%)
Monthly (%)Annual (%)
Apr-202.7-3.0
May-20-2.02.3
Jun-20-0.4-0.9
Jul-206.0-2.9
Aug-20-0.53.7
Sep-20-9.1-7.1
Oct-20-1.1-10.7
Nov-20-0.9-5.7
Dec-2011.6-8.2
Jan-21-2.6-9.6
Feb-21-7.9-3.9
Mar-21-1.5-7.1
Apr-215.8-4.2
May-21-6.1-8.3
Jun-214.3-4.0
Jul-21-1.4-10.7
Aug-21-0.3-10.5
Sep-214.52.8
Oct-211.75.7
Nov-21-4.12.3
Dec-2110.81.5
Jan-221.96.1
Feb-22-12.41.0
Mar-222.35.0
Apr-229.08.2
May-22-7.56.6
Jun-225.47.8
Jul-223.613.3
Aug-22-5.07.9
Sep-229.112.6
Oct-22-6.43.7
Nov-224.312.8
Dec-2227.029.3
Jan-23-7.217.8
Feb-23-14.614.9
Mar-231.513.9
Apr-237.211.9
May-23-11.37.3
Jun-2310.912.9
Jul-23-3.35.3
Aug-23-3.96.6
Sep-234.31.9
Oct-23-7.01.3
Nov-232.7-0.3
Dec-2315.8-9.1
Jan-24-5.2-7.1
Feb-24-9.3-1.3
Mar-24-1.2-3.9
Apr-244.6-6.2
Monthly Consumer Price Index Indicator, April 2024 (2024)

FAQs

Monthly Consumer Price Index Indicator, April 2024? ›

Monthly overview

What is the CPI index for April 2024? ›

Core CPI (excluding energy, food, alcohol and tobacco) rose by 3.9% in the 12 months to April 2024, down from 4.2% in March; the CPI goods annual rate slowed from 0.8% to negative 0.8%, while the CPI services annual rate eased slightly, from 6.0% to 5.9%.

What is the Consumer Price Index projection for 2024? ›

On the basis of these inflation forecasts, average consumer price inflation should be 3.1% in 2024 and 2.0% in 2025, compared to 4.06% in 2023 and 9.59% in 2022.

What is the CPI rate for 2024? ›

“Annually, the CPI rose 3.6 per cent to the March 2024 quarter. While prices continued to rise for most goods and services, annual CPI inflation was down from 4.1 per cent last quarter and has fallen from the peak of 7.8 per cent in December 2022."

What is the CPI report for March 2024? ›

Over the year ended March 2024, the Consumer Price Index for All Urban Consumers increased 3.5 percent (not seasonally adjusted), after a 3.2-percent increase from February 2023 to February 2024. Prices for all items less food and energy increased 3.8 percent from March 2023 to March 2024.

What is the core inflation rate in April 2024? ›

Inflation, as measured by the Personal Consumption Expenditure price index (PCE), rose 0.3% in April, while the closely-watched core PCE was up 0.2% over the month. On a yearly basis, the comparable growth rates were 2.7% for headline inflation and 2.8% for core.

What is the CPI expectations for May? ›

Core CPI increased by 3.4% year over year vs. 3.5% expected in May.

What is the US CPI data for April 2024? ›

The April 2024 Consumer Price Index (CPI) for All Urban Consumers (CPI-U) rose by a softer-than-expected 3.4% year-over-year (YOY). This marks a deceleration from a 3.5% YoY rise in March and the first-time inflation has cooled this year.

What is the CPI prediction for April? ›

The CPI is forecast to rise 0.4% in April after increasing by 0.4% in March. Core CPI is forecast to rise 0.3% in April after rising 0.4% in March. The CPI year over year is forecast to rise to 3.4% in April from 3.5% in March. The core CPI year over year is forecast to rise to 3.6% in April from 3.8% in March.

What is the CPIH forecast for 2024? ›

The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 2.8% in the 12 months to May 2024, down from 3.0% in the 12 months to April. On a monthly basis, CPIH rose by 0.4% in May 2024, compared with a rise of 0.6% in May 2023.

What is the CPI rate for March 2024? ›

On a monthly basis, CPIH rose by 0.6% in March 2024, compared with a rise of 0.7% in March 2023. The Consumer Prices Index (CPI) rose by 3.2% in the 12 months to March 2024, down from 3.4% in February.

What is the CPI for the last 12 months? ›

Not seasonally adjusted CPI measures The Consumer Price Index for All Urban Consumers (CPI-U) increased 3.3 percent over the last 12 months to an index level of 314.069 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

What is the forecast for CPI? ›

United States Consumer Price Index (CPI) YoY
Release DateActualForecast
Jun 12, 2024 (May)3.3%3.4%
May 15, 2024 (Apr)3.4%3.4%
Apr 10, 2024 (Mar)3.5%3.4%
Mar 12, 2024 (Feb)3.2%3.1%
2 more rows

What is the projected CPI for 2024? ›

Economics. The median estimate (year-over-year, not seasonally adjusted) for the consumer price index (CPI) for the month of April 2024 is 3.4%. If 3.4% is the actual year-over-year increase in the CPI, it will mark the first sequential decrease in the number since January 2024 (3.1%).

What is the CPI rate right now? ›

US Consumer Price Index is at a current level of 313.22, up from 313.21 last month and up from 303.36 one year ago. This is a change of 0.01% from last month and 3.25% from one year ago.

What is the Fed inflation rate in April? ›

The Fed's preferred inflation measure rose 0.2% in April, as expected. The personal consumption expenditures price index excluding food and energy costs increased 0.2% in April and 2.8% from a year ago. Headline PCE rose 0.3% and 2.7%, respectively, in line with estimates.

What is the CPI index now? ›

Not seasonally adjusted CPI measures

The Consumer Price Index for All Urban Consumers (CPI-U) increased 3.3 percent over the last 12 months to an index level of 314.069 (1982-84=100). For the month, the index increased 0.2 percent prior to seasonal adjustment.

What is the CPI W for 2024? ›

The May 2024 Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), released June 12, was 308.163, 2.3% above the FY 2024 baseline of 301.236. June 2024 figures will be announced July 11.

What is the CPI rate for January 2024? ›

The detailed inflation figures for the year to January 2024 are as follows: CPI inflation was 4.0% in January 2024 (Index: 131.5), unchanged from the December 2023 figure.

Is there a CPI forecast? ›

In 2022, the U.S. Consumer Price Index was 292.61, and is projected to increase to 339.39 by 2028. The base period was 1982-84. The monthly CPI for all urban consumers in the U.S. can be accessed here.

References

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