{"id":268893,"date":"2020-07-29T20:53:46","date_gmt":"2020-07-29T10:53:46","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=268893"},"modified":"2020-07-29T20:55:11","modified_gmt":"2020-07-29T10:55:11","slug":"largest-cpi-fall-in-72-years","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2020\/07\/29\/largest-cpi-fall-in-72-years\/","title":{"rendered":"Largest CPI Fall In 72 Years"},"content":{"rendered":"

\"\"<\/a>July 29, 2020<\/strong><\/p>\n

The Consumer Price Index fell 1.9 per cent in the June quarter – the largest quarterly fall in its 72-year history.<\/p>\n

Australian Bureau of Statistics chief economist Bruce Hockman said the CPI fall was mainly the result of free child care (-95.0 per cent), a significant fall in the price of petrol (-19.3 per cent) and a fall in pre-school and primary education (-16.2 per cent).<\/p>\n

“Excluding these three components, the CPI would have risen 0.1 per cent in the June quarter,” Mr Hockman said.<\/p>\n

Some CPI components recorded notable price rises on the back of increased spending.<\/strong><\/p>\n

These included cleaning and maintenance products (+6.2 per cent); other non-durable household products, such as toilet paper (+4.5 per cent); furniture (+3.8 per cent); major household appliances (+3.0 per cent); and audio, visual and computing equipment (+1.8 per cent).<\/p>\n

The annual inflation rate was -0.3 per cent in the year to the June 2020 quarter.<\/p>\n

“Since 1949, this was only the third time annual inflation has been negative. The previous times were in 1962 and 1997-98,” Mr Hockman said.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Consumer Price Index fell 1.9 per cent in the June quarter – the largest quarterly fall in its 72-year history.<\/p>\n","protected":false},"author":20,"featured_media":268894,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5,3],"tags":[],"yoast_head":"\nLargest CPI Fall In 72 Years - southburnett.com.au<\/title>\n<meta name=\"description\" content=\"The Consumer Price Index fell 1.9 per cent in the June quarter - the largest quarterly fall in its 72-year history.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2020\/07\/29\/largest-cpi-fall-in-72-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Largest CPI Fall In 72 Years - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"The Consumer Price Index fell 1.9 per cent in the June quarter - 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