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CPI indicator – how affordable is each Australian city?

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This FACT indicates the Consumer Price Index (CPI) for each city. CPI measures changes in the price level of consumer goods and services purchased by households, from a base level of 100. The CPI in the United States is defined by the Bureau of Labor Statistics as 'a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.' Any increase or decrease of price is then indexed against the base 'price' of 100; a 10 percent increase is therefore expressed as an index of 110.

The CPI is a statistical estimate constructed using the prices of a sample of representative items whose prices are collected periodically. The indexes are an important indicator into the financial health of a country.On a city-to-city comparison from 2013, Darwin's CPI was the highest, at 108.7. The city with the lowest was Hobart with 105.7.

Low is good

Source: Australian Bureau of Statistics, 2015

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