Inflation up 1.6 per cent

Consumers paid 1.6 per cent more in October 2013 than they did a year ago for the basket of goods and services included in the Consumer Price Index (CPI). The rate of inflation decreased 0.2 percentage points from the 1.8 per cent recorded in September 2013.

Between September and October 2013, the average cost of goods and services in the Consumer Price Index increased 0.1 per cent. The all-items index increased to 122.8 in October. This means that the basket of goods and services that cost $100.00 in April 2006 now cost $122.80.