This week, the ABS released the Consumer Price Index (CPI) figures for the December 2024 quarter. It is recommended that landlords and tenants check their respective leases to verify whether a CPI rent review is due using the December 2024 CPI number. The Capital City Weighted CPI Average has increased by 2.4% to 139.4. Sydney individually recorded a 2.4% CPI increase. Significant price rises this quarter were seen in the Recreation and Culture sector, at a 1.5% increase, whereas Housing observed a 0.7% CPI decrease.
Find further information at the ABS link below: https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/latest-release