Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Australia
AUSCP120000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
160.20
Year-over-Year Change
32.81%
Date Range
7/1/2011 - 7/1/2023
Summary
The Consumer Price Index for Miscellaneous Goods and Services in Australia measures changes in the prices of a broad basket of products and services beyond typical consumption categories. This metric provides insight into inflationary pressures in the broader 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 Miscellaneous Goods and Services CPI tracks price fluctuations for a diverse range of products and services, including personal care items, financial services, and recreational activities. This indicator is used by policymakers, economists, and analysts to assess overall consumer inflation trends in Australia.
Methodology
The Australian Bureau of Statistics collects price data from households and businesses to calculate this seasonally-adjusted monthly index.
Historical Context
Trends in the Miscellaneous Goods and Services CPI are closely monitored by the Reserve Bank of Australia and factor into monetary policy decisions.
Key Facts
- The Miscellaneous Goods and Services CPI accounts for around 12% of the total CPI basket in Australia.
- Prices in the Miscellaneous Goods and Services category grew by 4.9% year-over-year as of the latest report.
- This CPI index uses 2016 as its base year, with a value of 100.
FAQs
Q: What does this economic trend measure?
A: The Miscellaneous Goods and Services CPI tracks changes in the prices of a wide range of products and services in Australia beyond typical consumption categories like food, housing, and transportation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into broader inflationary pressures in the Australian economy, which is useful for policymakers, economists, and market participants in assessing overall consumer price dynamics.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics collects price data from households and businesses to calculate this seasonally-adjusted monthly index.
Q: How is this trend used in economic policy?
A: Trends in the Miscellaneous Goods and Services CPI are closely monitored by the Reserve Bank of Australia and factor into their monetary policy decisions.
Q: Are there update delays or limitations?
A: The Miscellaneous Goods and Services CPI is released on a monthly basis, typically with a 1-2 month lag from the reference period.
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Citation
U.S. Federal Reserve, Consumer Price Index: Miscellaneous Goods and Services (COICOP 12): Total for Australia (AUSCP120000IXNBQ), retrieved from FRED.