Territory Stories

Budget 2013/14 Northern Territory Economy



Budget 2013/14 Northern Territory Economy

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Tabled paper 295


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




Tabled by David Tollner


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Department of the Treasury and Finance

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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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