Food Inflation Rises, Dairy Prices Down

by | Jan 16, 2025 | Australia, News

Australia’s monthly consumer price index (CPI) indicator rose 2.3% in the 12 months to November 2024, compared to 2.1% in the prior month. The food and non-alcoholic beverages category was a top contributor alongside higher prices for alcohol, tobacco as well as recreation and culture. Inflation in food and non-alcoholic beverages lifted 2.9% in the 12 months to November 2024, slightly lower than the month before, (+3.3%).

The CPI indicator for dairy and related products was less negative than the month prior –0.9% compared to –1.8% in the month prior. Dairy products remain the only major food category with declining prices on an annualised basis. According to the ABS, cheese prices rose between October and November, but remain 1.6% down YOY.

 

0 Comments