The Consumer Price Index is the measure of the inflation and the Indexation Rate 2024 is based on the CPI. People have been wondering What Is The Australia Indexation Rate In 2024? And the answer for the same can be checked through the article given below. Indexation is the multi year funding between the Government and the Not For Profit Organizations. The rates are published 4 years in advance and to provide certainty to the NFP. The Table given in this post will guide you with the details on the indexation rates which will be applicable. The CPI has taken an increase of 0.6% for the quarter in 2024.
Indexation Rate 2024
The Consumer Price Index is the inflation measure which is done on the quarterly basis by the Australian Bureau of Statistics. The ABS publishes the monthly CPI indicator which is the updated prices for the two thirds of the CPI basket given each month. The monthly CPI indicator is used to see the inflation and it also includes the data based on the prices of expenditure of the household category. The monthly CPI has risen 3.4% in the 12 months period to January. Indexation is the process which adjusts the values of the Government programs for the changes in the price level, living costs or the wages. The indexation keeps the level of policy setting during time. The arrangements get included in a broad range of Government programs which are then related to health and social welfare. It is the Consumer Price Index that decides the indexation rates. The indexation can bring many risks and challenges for managing the program’s budget and fiscal position. The wage cost index is also the factor which determines the dss.gov.au Indexation Rate 2024.
The PBO publication will provide the details on the impact of indexation on the budget. The Government programs are indexed using the CPI. The question arises as to What Is The Australia Indexation Rate In 2024? And to get an answer for this question, one has to refer to the complete article given below.
dss.gov.au Indexation Rate 2024
The indexation is based on the Consumer Price Index and the dss.gov.au Indexation Rate 2024 can be based on various factors. The indexation rate has taken an increase by 3.4% for the year 2024. The given table will guide you with the details on the Australia Indexation Rate 2024.
| Post Title | Indexation Rate 2024 |
| Organization Name | Department of Social Services |
| Government | Australian Government |
| Country | Australia |
| Year | 2024 |
| Month | March |
| Indexation Rate | Mentioned Below |
| Basis of Indexation Rate | Consumer Price Index |
| Post type | Finance |
| Website | dss.gov.au |
Australia Indexation Rate 2024
- The Consumer Price Index is the basis for the preparation of the Indexation and also the Wage Index helps to prepare indexation.
- Indexation is the driver which changes in the price level, living cost or wages.
- Since the price changes are very unpredictable, indexation can present various risks and challenges.
- The annual trimmed mean inflation was 3.8% in January which was 4% in December 2023.
- The rental prices have been increased to 7.4% in the 12 months period to January.
- The CPI rose by 0.6% for the first quarter of the year.
Australia CPI 2024
The CPI is the measure of inflation is the measure of Inflation which has been stated by the ABS. The ABS provides the monthly CPI indicator which includes the updated price for ⅔ of the CPI basket each month.
CPI determines the rate of indexation at the end of each quarter.
What Is The Australia Indexation Rate In 2024?
You shall have a look at the table given below to know about the inflation rates for the month of March 2024 and then match it to the previous years data.
| Benefit Name | Family Situation | Particulars | Previous Rates | New Rate | Change |
| Adult Pension Rates | Single | Base | $1,002.50 | $1,020.60 | $18.10 |
| — | — | Supplement | $80.10 | $81.60 | $1.50 |
| — | — | Energy Supplement | $14.10 | $14.10 | — |
| — | — | Total | $1,096.70 | $1,116.30 | $19.60 |
| — | Partnered (each) | Base | $755.70 | $769.30 | $13.60 |
| — | — | Supplement | $60.40 | $61.50 | $1.10 |
| — | — | Energy Supplement | $10.60 | $10.60 | — |
| — | — | Total | $826.70 | $841.40 | $14.70 |
| Adult Transitional Pension Rate | Single | Maximum Transitional Pension Rate | $892.70 | $908.80 | $16.10 |
| — | — | Energy Supplement | $14.10 | $14.10 | — |
| — | — | Total | $906.80 | $922.90 | $16.10 |
| — | Partnered (each) | — | — | — | — |
| — | — | Maximum Transitional Pension Rate | $721.00 | $734.00 | $13.00 |
| — | — | Energy Supplement | $10.60 | $10.60 | – |
| — | — | Total | $731.60 | $744.60 | $13.00 |
| Adult Pension Supplement Basic Amount | Single | — | $27.80 | $28.30 | $0.50 |
| — | Illness-separated, respite care or partner in gaol | — | $27.80 | $28.30 | $0.50 |
| — | Partnered (each) | — | $22.90 | $23.30 | $0.40 |
| Adult Pension Supplement Minimum Amount | Single | — | $43.10 | $43.90 | $0.80 |
| — | Illness-separated, respite care or partner in gaol | — | $43.10 | $43.90 | $0.80 |
| — | Partnered (each) | — | $32.50 | $33.10 | $0.60 |
| Pension Disqualifying Income Limits | Single | — | $2,397.40 | $2,436.60 | $39.20 |
| — | Couple (combined) | — | $3,666.80 | $3,725.60 | $58.80 |
| — | Illness-separated (couple combined) | — | $4,746.80 | $4,825.20 | $78.40 |
| — | Family Situation – Non-Resident | — | — | — | — |
| — | Single | — | $2,264.60 | $2,301.80 | $37.20 |
| — | Couple (combined) | — | $3,474.40 | $3,530.40 | $56.00 |
| — | Illness-separated (couple combined) | — | $4,481.20 | $4,555.60 | $74.40 |
| Transitional Pension Disqualifying Income Limits | — | — | — | — | — |
| — | Resident | — | — | — | — |
| — | Single | — | $2,471.00 | $2,511.25 | $40.25 |
| — | Single + 1 dependent child | — | $2,495.60 | $2,535.85 | $40.25 |
| — | Couple (combined) | — | $4,018.00 | $4,083.00 | $65.00 |
| — | Illness-separated (couple combined) | — | $4,894.00 | $4,974.50 | $80.50 |
| — | Non-Resident | — | — | — | — |
| — | Single | — | $2,250.50 | $2,287.25 | $36.75 |
| — | Single + 1 dependent child | — | $2,275.10 | $2,311.85 | $36.75 |
| — | Couple (combined) | — | $3,781.00 | $3,842.50 | $61.50 |
| — | Illness-separated (couple combined) | — | $4,453.00 | $4,526.50 | $73.50 |
| Pension Supplement Component for Pension Bonus | Single | — | $722.80 | $735.80 | $13.00 |
| — | Illness-separated, respite care or partner in gaol | — | $722.80 | $735.80 | $13.00 |
| — | Partnered (each) | — | $595.40 | $605.80 | $10.40 |
Links To Check Indexation Rate 2024
| Indexation Rate 2024 | Social Security Rates Indexation |
FAQs On Indexation Rate 2024
The dss.gov.au Indexation Rate 2024 is the driver which changes in the price level, living cost or wages.
The Consumer Price Index is the basis to prepare the Australia Indexation Rate 2024.
The Australia Consumer Price Index 2024 is the measure of inflation is the measure of Inflation which has been stated by the ABS.
The various inflation rates in Australia can be checked through the table given above.
The updates for the Australia Indexation Rate 2024 can be checked through the website dss.gov.au.