{"id":100351,"date":"2023-10-27T01:27:19","date_gmt":"2023-10-27T01:27:19","guid":{"rendered":"https:\/\/celebritycovernews.com\/?p=100351"},"modified":"2023-10-27T01:27:19","modified_gmt":"2023-10-27T01:27:19","slug":"these-87-items-are-responsible-for-inflation-see-which-ones-have-increased-the-most-in-price","status":"publish","type":"post","link":"https:\/\/celebritycovernews.com\/world-news\/these-87-items-are-responsible-for-inflation-see-which-ones-have-increased-the-most-in-price\/","title":{"rendered":"These 87 items are responsible for inflation. See which ones have increased the most in price"},"content":{"rendered":"

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Inflation increased 5.4 per cent over the past 12 months, and over the past quarter it has risen 1.2 per cent.<\/p>\n

This is the sort of sentence that you\u2019re probably used to seeing every three months when the latest consumer price index data is announced and with the cost of living becoming a bigger issue by the day, these Australian Bureau of Statistics figures carry a lot of significance.<\/p>\n

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Trying to make sense of the rise of inflation?<\/span>Credit: <\/span>Stephen Kiprillis<\/cite><\/p>\n

But it\u2019s not as though these figures are conjured up out of thin air by the ABS. A huge amount of data is collected from around the country on what a typical household would be spending money on as well as how much of their overall budget would be put toward certain items.<\/p>\n

There\u2019s a lot happening under the surface of this 5.4 per cent figure, and to make of sense of it we just need to look into the inflation iceberg to understand what\u2019s happening under the surface.<\/p>\n

Okay, so what\u2019s under this inflation iceberg?<\/h3>\n

At the most granular level, there is data on 87 categories of spending (which the ABS refers to as expenditure classes) that are bundled together to form the overall inflation figure. These include everything from bread<\/strong>, beer<\/strong> and books<\/strong> to pets<\/strong>, pharmaceuticals<\/strong> and pork<\/strong>.<\/p>\n

You can check out how prices have increased (or in some cases decreased) for all 87 expenditure classes in the graph below. You can also see which ones have recorded price increases outpacing overall inflation (the yellow bar) and which ones have increased more than wages (the green bar).<\/p>\n

Over the past 10 years, the biggest price increase has been:<\/p>\n