Territory Stories

Budget 2013/14 Northern Territory Economy

Details:

Title

Budget 2013/14 Northern Territory Economy

Other title

Tabled paper 295

Collection

Tabled papers for 12th Assembly 2012 - 2016; Tabled papers; ParliamentNT

Date

2013-05-14

Description

Tabled by David Tollner

Notes

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.

Language

English

Subject

Tabled papers

Publisher name

Department of the Treasury and Finance

File type

application/pdf

Use

Copyright

Copyright owner

See publication

License

https://www.legislation.gov.au/Details/C2019C00866

Parent handle

https://hdl.handle.net/10070/273751

Citation address

https://hdl.handle.net/10070/426369

Page content

70 Prices 2013-14 Budget Utilities are made up of electricity (2.52percent), water and sewerage (0.69percent) and gas and other household fuels (0.08percent). In annual terms, growth in the housing category of Darwins CPI strengthened to 3.9percent in the December quarter 2012, up from 1.8percent in the December quarter 2011. Within the housing category, electricity prices increased by 9.9percent through the year, reflecting the introduction of the carbon price in the September quarter 2012. Housing rents increased by 4.2percent and house purchase prices increased by 3.2percent. These increases were partly offset by house repairs and maintenance prices, which declined by 1.0percent. ppt: percentage point contribution Note: Due to the introduction of the 16th series weighting pattern of the CPI midway through the 2011 calendar year, there is insufficient data to provide an estimate of annual contributions to CPI through the four quarters of the year ended December 2011, and these contributions were not published by ABS. Annual contributions to CPI for the year ended December 2011 have been derived by the Department of Treasury and Finance and are presented for illustrative purposes only. The introduction of the new CPI series and consequent break in the time series require that caution is taken in interpreting the December 2011 contributions and in comparing December 2011 contributions with those of other years, as well as in comparing December 2012 contributions with those of previous years. Source: ABS Cat. No. 6401.0; Department of Treasury and Finance Alcohol and Tobacco Alcohol and tobacco prices increased by 5.4percent in Darwin through the year to December2012, which was driven by a 7.8percent increase in beer prices. The increase in tobacco and alcohol prices was due in part to a 1.2percent increase in the federal excise tax from August2012, and the introduction of a cash for containers scheme in the Territory. Furnishings, Household Equipment and Services Prices in the furnishings, household equipment and services category increased by 2.3percent through the year to December2012 compared with a decline the previous year, primarily due to a 15.1percent increase in prices by childcare service providers. This reflects the introduction of the National Quality Framework for Early Childhood Education and Care, which took effect on 1 January 2012. The framework is aimed at raising the quality and driving improvement and consistency of care. Chart 6.1: Percentage Point Contribution to Annual Change in Darwin CPI -0.5 -0.3 0.0 0.3 0.5 0.8 1.0 1.3 Housing Alcohol and tobacco Household contents Food Recreation Transport Financial services Other 2010 2011 2012 ppt Year ended June


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