The annual CPI inflation rate dipped by 0,1% to 5,5% in June 2013

Food inflation recorded its fourth successive year on year increase and is now at its highest point for the year.  The inflationary pressures are distributed across a range of food groups, with processed food reflecting a higher rate of inflation at 7,6% compared to processed food at 6,3%.
Prices of alcoholic beverages dropped on average by 0,3% between May and June.  This drop breaks a series of successive monthly increases for the past 6 months which by themselves almost fully account for the annual rate of 6,5%.
Actual and imputed rentals for housing represent a significant 16,2% of the total CPI weight.  Results from the June rental survey showed increases of 1,5% and 1,4% for these respectively.  These increase are bigger than the 1,2% recorded this time last year.  These increases pushed the housing category to be the biggest single contributor to this months mom inflation – 0,2 of the 0,3% monthly increase.
The usually influential transport category was up only 0,2% mom.  The petrol price dropped 8c between May and June, but public transport increased by 1,7% mainly because of annual increase in train fares of 7,9%.  Increases in taxi fares are more muted than observed in 2012.