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The CPI is designed to measure price inflation for the household sector as a whole and, as such, is not the conceptually ideal measure for assessing the impact of price changes on the disposable incomes of a subgroup of the population (eg. pensioners). To address this, the Government has requested the ABS to produce a new index - the Pensioner and Beneficiary Living Cost Index (referred to as PBLCI). The Government will use the PBLCI as a new measure of price change to index base pension rates where it is higher than the CPI.
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