As we leave July and enter August 2011, buying a banana is still a luxury for many on the NSW North Coast at around $14-$16 a kilo in some of the larger supermarkets.The Australian Bureau of Statistics kindly places the pain in our wallets into perspective.
ABS CPI June quarter 2011 up 0.9%
The ABS Consumer Price Index rose 0.9% in the June quarter 2011, compared with a rise of 1.6% in the March quarter 2011.
The most significant price rises this quarter were for fruit (+26.9%), automotive fuel (+4.0%), hospital and medical services (+3.4%), furniture (+6.0%) and deposit and loan facilities (+2.1%). The most significant offsetting price falls were for vegetables (–10.3%), audio, visual and computing equipment (–6.3%), electricity (–1.5%), domestic holiday travel and accommodation (–1.5%) and milk (–4.6%).
Fruit prices increased by 26.9% in the June quarter 2011 mainly due to an increase of approximately 138% in the price of bananas due to shortages created by Cyclone Yasi. Banana prices increased 470% over the six months to the June quarter 2011.
The ABS Consumer Price Index rose 3.6% through the year to the June quarter 2011, compared with a rise of 3.3% through the year to March quarter 2011.
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