Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Education for Australia
AUSCP100000IXOBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141.84
Year-over-Year Change
17.26%
Date Range
1/1/1981 - 1/1/2025
Summary
The Consumer Price Index (CPI) for Education in Australia measures the changes in the prices paid by consumers for educational goods and services. This metric is a key indicator of inflation and consumer spending patterns.
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 Education in Australia, part of the Harmonized Index of Consumer Prices (HICP), tracks the costs of tuition, books, supplies, and other educational expenses. It is used by policymakers and economists to assess the overall cost of living and inform decisions on monetary policy and public spending.
Methodology
The Australian Bureau of Statistics collects price data from a sample of educational institutions and vendors to calculate the monthly CPI for Education.
Historical Context
The Education CPI is a valuable input for the Reserve Bank of Australia in setting interest rates and monitoring inflationary pressures.
Key Facts
- Education accounts for around 5% of the Australian CPI basket.
- CPI for Education has risen by an average of 3.5% annually over the past decade.
- Tertiary education costs have been the primary driver of increases in the Education CPI.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Education in Australia tracks the changes in the prices paid by consumers for educational goods and services, including tuition, books, and supplies.
Q: Why is this trend relevant for users or analysts?
A: The Education CPI is a key indicator of inflation and consumer spending patterns, providing valuable insights for policymakers, economists, and households.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data from a sample of educational institutions and vendors to calculate the monthly CPI for Education.
Q: How is this trend used in economic policy?
A: The Education CPI is an important input for the Reserve Bank of Australia in setting interest rates and monitoring inflationary pressures in the Australian economy.
Q: Are there update delays or limitations?
A: The Education CPI is published monthly by the Australian Bureau of Statistics, with a typical release lag of around 4 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Education for Australia (AUSCP100000IXOBQ), retrieved from FRED.