Inflation subdued in the June quarterThe Consumer Price Index rose 0.2% nationally in the June quarter 2017, the latest Australian Bureau of Statistics figures reveal. This follows a rise of 0.5% in the March quarter 2017.However, in Perth the CPI did not change at all in the quarter to June 2017 and was up 0.7% year on year. Perth was one of three capital cities to record no movement, joined by Hobart and Canberra.Nationally, the housing group (+0.3%) is the second most significant positive contributor to the All groups quarterly movement, with rises in five of the eight capital cities. This is driven by a rise in new dwelling purchase by owner-occupiers (+0.9%), due to increases in input costs, particularly timber, steel and concrete.Rents continued to remain subdued this quarter, including falls in Brisbane (-0.2%), Perth (-1.5%) and Darwin (-1.9%).The fall in Perth rents is due to a continuation of excess housing stock and high vacancy rates.
Home Property Australia Inflation subdued in the June quarter