The Inflation Gauge recorded higher prices for November, in addition to a rise in the cost of living

The Inflation Gauge recorded higher prices for November, in addition to a rise in the cost of living. Private motoring costs and holiday travel & accommodation were the primary drivers of higher living costs for employees, with other government transfer recipients impacted by higher rents.

The Melbourne Institute Monthly Inflation Gauge is designed to provide a timely and accurate monthly measure of inflation in Australia. Based on the ABS methodology for calculating the quarterly consumer price index, the Melbourne Institute Monthly Inflation Gauge estimates month-to-month price movements for a wide-ranging basket of goods and services across the main capital cities of Australia.

The Melbourne Institute Monthly Cost of Living Indexes account for changes in mortgage rates, which are not part of the inflation measure. The indexes are computed for five household types (age pensioners, pensioners and beneficiaries, employees, other government transfer recipients and self-funded retirees).

The Melbourne Institute Monthly Inflation Gauge and Cost of Living report for December 2022 was released at 11am (AEDT), Monday 5 December 2022.

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The next Monthly Inflation Gauge and Cost of Living report for December 2022 will be released at 11am (AEDT), Monday 16 January 2023.

The Melbourne Institute Monthly Inflation Gauge is designed to give markets and policy makers a monthly update on inflation trends. Further information can be found here.

More Information

A/Prof Sam Tsiaplias

sarantis.tsiaplias@unimelb.edu.au

03 9035 3353