Swan understands inflation figures' pressure on families

Treasurer Wayne Swan
Treasurer Wayne Swan Kari Bourne

TREASURER Wayne Swan welcomed inflation figures putting the nation's consumer price index at 2.5% in the year to March on Wednesday.

The Australian Bureau of Statistics data showed inflation rose 0.4% in the March quarter on the back of a 0.2% rise in the December quarter last year.

Mr Swan said inflation was sitting squarely in the middle of the Reserve Bank's target band, despite pressures on some families from seasonal rise in the cost of health and tertiary education costs.

"So this result is welcome, but we know that not all families are on easy street and that rises in prices can put pressure on family budgets," he said.

The data showed consumers paid more for tertiary education (up 6.5%), pharmaceutical products (up 7.6%) and tobacco (up 3.7%) during the March quarter.

Prices fell during the quarter on international travel and accommodation (down 5.2%), fruit (down 7%) and furniture (down 6.8%).

Topics:  australian bureau of statistics consumer price index inflation

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