The CPI indexation factor, which is used for FBT purposes concerning remote area benefits (under ss 60 and 60AA of the FBTAA), for the December quarter 2013 increased 0.8 from the September 2013 quarter to 104.8. The Australian Bureau of Statistics (ABS) said inflation was running at 2.7% through the year to 31 December 2013 (up from 2.2% through the year to 30 September 2013).
The most significant price rises this quarter were for domestic holiday travel and accommodation (+6.9%), fruit (+8.1%), vegetables (+7.1%), new dwelling purchase by owner-occupiers (+1.0%), international holiday travel and accommodation (+2.6%) and tobacco (+2.2%). The most significant offsetting price fall this quarter was for automotive fuel (-1.1%).
Source: Australian Bureau of Statistics Catalogue 6401.0, 22 January 2014
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