Cost of childcare 8 per cent lower than last year according to latest ABS release
The cost of childcare across the state and territory capital cities of Australia has fallen by 8 per cent in the first three months of 2019 compared to the same period last year.
The data released as part of the Australian Bureau of Statistics’ (ABS) quarterly inflation series seeks to measure the out of pocket costs Australian families pay for child care and includes the impact of the Child Care Subsidy (CCS).
The first quarter of 2019 price fall of 8.0 per cent compares to 8.3 per cent in the three months to December 2018 and 8.5 per cent in the three months to September 2018.
Year on year prices lower but quarterly prices continue to rise at varying speeds
All States and Territories reported prices that continued to track below the same period as last year but there were quite significant variations in the degree of quarterly increase in costs when compared to the previous three month period ie: the three months ending December 2018.
Childcare costs in Sydney appear to be rising at a slower rate than was reported last year, as is Hobart but costs in Melbourne and Canberra have accelerated quite sharply from what were already quite elevated increases in 2017 and 2018.
Interestingly, although the increases in Brisbane were only 1.8 per cent this quarter, due to a large increase of 4.4 per cent last quarter (September to December 2018) overall prices are now only 3.0 per cent lower than the same period in 2018.
This is significant as should costs continue to tick higher at this rate Brisbane is likely to be the first city to report that overall costs have exceeded the levels recorded prior to the introduction of the CCS which was implemented just 9 months ago.