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    Australia?s annual CPI now at 6.1%

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    Annual CPI inflation increased to 6.1 per cent in the June quarter, which is the highest in 19 years.

    The increase in prices was due to higher dwelling construction costs and automotive fuel prices.

    Annual trimmed mean inflation, which excludes large price rises and falls, increased to 4.9 percent, the highest since the ABS first published the series in 2003.

    Goods accounted for 79% of the rise in the CPI this quarter, reflecting high freight costs, supply constraints and prolonged strong demand.

    New home prices also recorded their largest annual rise since this data was first collected in 1999.

    Price rises continue to be driven by high levels of building construction activity combined with ongoing shortages of materials and labour.

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