Melbourne has lowest inflation rate

Melbourne continues to have the lowest inflation rate in Australia, with discounted winter power prices being a major factor in that achievement.

The Consumer Price Index  rose by only 0.3% in the December quarter, reflecting the $60 reduction all Victorian households received on their winter electricity bills.

Melbourne also continues to have the lowest inflation rate of any major capital city at only 0.8% over the year; only half the Australian average.

An average 18% reduction in the price of water for all Victorian households over the last 12 months was another factor that was keeping inflation down.

(News Release, Office of the Treasurer, January 28,1999)