|
| Quarter |
2007–08 |
2008–09 |
2009–10 |
2010–11 |
2011–12 |
| Index (a) (b) |
|
|
|
|
|
|
|
|
|
|
|
| September |
91.8 |
99.4 |
97.6 |
104.6 |
108.5 |
| December |
93.0 |
100.7 |
98.8 |
105.2 |
108.2 |
| March |
94.1 |
99.6 |
100.6 |
106.7 |
107.2 |
| June |
96.7 |
97.3 |
103.3 |
107.8 |
107.6 |
|
|
|
|
|
|
| Annual average |
93.9 |
99.3 |
100.1 |
106.1 |
107.9 |
| |
|
|
|
|
|
| Quarterly change (b) – per cent |
|
|
|
|
|
|
|
|
|
| September |
0.9 |
2.8 |
0.3 |
1.3 |
0.6 |
| December |
1.3 |
1.3 |
1.2 |
0.6 |
-0.3 |
| March |
1.2 |
-1.1 |
1.8 |
1.4 |
-0.9 |
| June |
2.8 |
-2.3 |
2.7 |
1.0 |
0.4 |
| |
|
|
|
|
|
| Annual change (b) – per cent |
|
|
|
|
|
|
|
|
|
| September |
3.6 |
8.3 |
-1.8 |
7.2 |
3.7 |
| December |
4.3 |
8.3 |
-1.9 |
6.5 |
2.9 |
| March |
4.4 |
5.8 |
1.0 |
6.1 |
0.5 |
| June |
6.3 |
0.6 |
6.2 |
4.4 |
-0.2 |
|
|
|
|
|
|
| Annual average |
4.7 |
5.7 |
0.8 |
6.0 |
1.7 |
| |
|
|
|
|
|
|
Key points
The implicit price deflator for non-farm gross domestic product (GDP) rose by just 0.4 per cent in the June quarter 2012.
On an annual basis, the implicit price deflator for non-farm GDP fell by 0.2 per cent in the 12 months to June 2012.
Annual change was negative for the first time since the December 2009 quarter.
What is measured
The implicit price deflator (IPD) for non-farm gross domestic product is used to measure price changes throughout the wider economy, much as the consumer price index measures price changes for consumer goods and services in the capital cities.
Ideally, the IDP for GDP would be used but the volatility in the farm sector—agriculture, forestry and fishing—often distorts the IPD. Therefore, even though the farm sector only accounts for around
3 per cent of GDP, it is excluded so a more stable measure of price change is achieved.
The measure is called an implicit price deflator because it is calculated, or implied, from current price and chain volume measures series.
Related statistics in this bulletin
- 2.3 Wage price index
- 2.4 Consumer price index
- 3.1 Gross domestic product
- 3.2 Non-farm gross domestic product
Related publications
- ABS, Labour price index,
Cat. no. 6345.0
- ABS, Consumer price index,
Cat. no. 6401.0
|