Territory Stories

Budget Paper 1994-95 No.6 Northern Territory Economy



Budget Paper 1994-95 No.6 Northern Territory Economy

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Tabled Paper 2156


Tabled Papers for 6th Assembly 1990 - 1994; Tabled Papers; ParliamentNT




Tabled by Barry Coulter


Made available by the Legislative Assembly of the Northern Territory under Standing Order 240. Where copyright subsists with a third party it remains with the original owner and permission may be required to reuse the material.




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Prices and Wages for the December quarter 1993. Figure 4.2 highlights the contribution o f each commodity group to the percentage change in the Territory and national CPI over the year to December 1993. The direction o f price changes in the Territory and nationally were uniform across all categories. In the Territory, as was the case nationally, recreation and education, tobacco and alcohol, and food categories exerted the greatest upward pressure on prices. The food index rose 4.0% in the Territory due to higher prices for fresh fruit and vegetables as well as increased takeaway prices. The recreation and education index also rose reflec tin g increased domestic and international tourism costs, while increases in tobacco and alcohol prices, to a large extent, reflected explicit government policies. Offsetting to some extent the various increases in prices were further reductions in interest charges and the availability o f cheaper clothing. Annual inflation rates for the eight capital cities to D ecem ber 1993 are shown in Table 4.1 and provide an indication o f the relative inflation performance o f each city. Rates vary across the cities due to differing prevailing economic conditions, one-off charges specific to a State/Territory (for example, tobacco franchise fees) and the uneven im pact o f na tiona l econom ic policies on State/Territory Governments. 2 2 Table 4.1 Annual Inflation Rates City Year to Dec 1993 % Hobart 3.3 M elbourne 2.4 Darwin 2.3 Perth 2.3 Canberra 2.1 Brisbane 1.9 Adelaide 1.9 Sydney 1.3 8 Capitals (weighted) 1.9 Source: ABS Cat. No. 6401.0 Figure 4.2 Contribution to Change in CPI (year to December 1993) Percentage Contribution Source: ABS Cat. No. 6401.0