The CPI indexation factor, which is used for FBT purposes concerning remote area benefits (under ss 60 and 60AA of the FBTAA), for the September quarter increased 1.4% from the June 2012 quarter to 101.8. The most significant price rises this quarter were for electricity (+15.3%), international holiday travel and accommodation (+6.6%), and medical and hospital services (+4.5%).
The Australian Bureau of Statistics (ABS) also advised that from the September 2012 quarter, all the index numbers have been calculated on a new index reference period of 2011-12. It says this has resulted in the index numbers for each index series being reset to 100.0 for the 2011-12 financial year. However, the ABS says the differences do not constitute a revision.
Source: Australian Bureau of Statistics Catalogue 6401.0, 24 October 2012
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