Brisbane CPI December 2023 Quarter
The Latest CPI All Groups Brisbane Increase
The latest CPI All Groups Brisbane number is 137.7, with an increase of 0.6% during the October to December 2023 quarter. Brisbane recorded an annual rise of 0.5% compared to the national CPI of 4.1%.
What is the effect of CPI on commercial property owners and tenants?
The CPI figure can have a significant impact on commercial property owners and tenants. Most commercial property leases include an annual increase that is equal to the annual CPI for the local area. For Brisbane and Gold Coast properties, this is usually equal to the annual Brisbane All Groups CPI figure.
What if the quarterly CPI data is released after the set annual review date?
Our commercial property managers monitor important milestones in your lease. It can be a complicated process as there are occasions when the annual increase may be set for a date prior to the release of the applicable CPI figures. In that instance the annual increase will need to be backdated.
What is CPI?
The Consumer Price Index (CPI) is a measure of the average change in prices of a basket of goods and services purchased by households. It is calculated by the Australian Bureau of Statistics (ABS) and is used to track inflation.
How is CPI calculated?
The CPI is calculated by using a weighting system to assign different weights to different goods and services. The weighting system is based on the amount of money that households typically spend on each good or service.
Where do I find the quarterly CPI results for Brisbane?
You can see the full CPI quarterly report on the ABS website here: https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price-index-australia/dec-quarter-2023
Conclusion
The CPI is an important measure of inflation, and it can have a significant impact on commercial property owners and tenants. If you are a commercial property owner or tenant, it is important to be aware of the CPI and how it can affect your lease and business.
For more information on how the CPI can affect your commercial or industrial property, please contact our commercial property managers or agents.
