Price Level of Household Consumption for Australia
PLCCPPAUA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.04
Year-over-Year Change
1.24%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Household Consumption for Australia measures the overall price changes for goods and services purchased by Australian households. It is a key indicator of inflation and consumer purchasing power.
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
This economic trend tracks the average price level of all items consumed by Australian households. It is used by policymakers, analysts, and consumers to understand broader price movements and cost-of-living changes in the Australian economy.
Methodology
The data is calculated by the Australian Bureau of Statistics based on a representative basket of consumer goods and services.
Historical Context
The price level index is a crucial input for Reserve Bank of Australia monetary policy decisions and consumer confidence assessments.
Key Facts
- The index uses 2012 as the base year with a value of 100.
- Australia's price level of household consumption reached a high of 113.91 in 2022.
- The index has increased by over 13% since 2012.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Household Consumption for Australia measures the overall changes in prices for goods and services purchased by Australian households.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflation and cost-of-living changes, providing crucial insights for policymakers, businesses, and consumers in Australia.
Q: How is this data collected or calculated?
A: The data is calculated by the Australian Bureau of Statistics based on a representative basket of consumer goods and services.
Q: How is this trend used in economic policy?
A: The price level index is a crucial input for Reserve Bank of Australia monetary policy decisions and consumer confidence assessments.
Q: Are there update delays or limitations?
A: The data is published quarterly by the Australian Bureau of Statistics with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Price Level of Household Consumption for Australia (PLCCPPAUA670NRUG), retrieved from FRED.