Australian Bureau of Statistics
6427.0.55.004 - Information Paper: Outcome of the Review of the Producer and International Trade Price Indexes, 2012
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/03/2012 First Issue
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6.1 A timetable for the introduction of the updated Producer Price Indexes (PPIs) and International Trade Price Indexes (ITPIs) was included in Information Paper: Review of the Producer and International Trade Price Indexes (cat. no. 6427.0.55.003). An indicative timetable of remaining activities leading up to the introduction of the new indexes follows.
6 March 2012
6.2 Release and widely distribute this information paper summarising the outcome of the review of the PPIs and ITPIs and setting out the major decisions taken.
March – June 2012
6.3 Finalise index structures and move the Stage of Production (SOP) indexes to the Australian and New Zealand Standard Industrial Classification, 2006 edition (ANZSIC 2006).
May – August 2012
6.4 Derive the new weighting patterns for the PPIs based on 2007–08 Input–Output (I–O) tables. The new weighting patterns will be derived for the ITPIs based on 2010–2011 and 2011–12 International Merchandise Trade Statistics (IMTS) (as appropriate).
6.5 Link the old and the new PPI and ITPI series. This is an important component of the implementation of the review. This task cannot be completed until the June quarter 2012 PPI and ITPI series are published in late July 2012.
6.6 Re–reference the PPIs and ITPIs to an index reference period of 2011–12 = 100.0.
Mid September 2012
6.7 Publish an Information paper on the updated PPI and ITPIs which will summarise the major changes that will occur from the September quarter 2012, and will provide the weighting pattern of the PPIs and SOP indexes.
Early November 2012
6.8 Introduce the re–weighted series in the September quarter 2012 release.
6.9 From the September quarter 2012 release, the PPIs and ITPIs will be delayed by nine working days from the current release schedule.
6.10 The ABS will fully incorporate the use of the Export Price Index (EPI) and the Import Price Indexes (IPI) (i.e. the ITPIs) in the compilation of the National Accounts and the Balance of Payments chain volume measures. The ITPIs will continue to be aggregated using weights aligned with IMTS concepts.
6.11 An updated Producer and International Trade Price Indexes Concepts, Sources and Methods publication will be released.
6.12 The new computer system is expected to be implemented in mid 2014, supporting the release of the September quarter 2014 indexes that includes: planned revisions to the PPIs and the ITPIs; and non–market price indexes.
6.13 The ABS will broaden the scope of the ITPIs to include International Trade in Services. The ITPIs will be aggregated using weights aligned with Balance of Payments and International Investment Position Manual, sixth edition (BPM6) concepts. This will allow the publication of International Trade in goods and services pure price indexes.
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This page last updated 5 March 2012