6467.0 - Pensioner and Beneficiary Living Cost Index, Sep 2011 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 14/11/2011
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SEPTEMBER KEY FIGURES
SEPTEMBER KEY POINTS
THE ALL GROUPS PENSIONER AND BENEFICIARY LIVING COST INDEX (PBLCI)
OVERVIEW OF PBLCI MOVEMENTS
CHANGES IN THIS ISSUE
This issue incorporates the changes introduced into the September quarter 2011 Consumer Price Index, Australia (cat. no. 6401.0), which included an updated weighting pattern and a new commodity classification. For more details on the changes resulting from the introduction of the 16th Series CPI, refer to Information Paper: Introduction of the 16th Series Australian Consumer Price Index, 2011 (cat. no. 6470.0).
As a result of these changes to the CPI, there are changes to the Pensioner and Beneficiary Living Cost Index (PBLCI), including updated weighting patterns. For more details on the new weighting patterns and a comparison of the previous and current weights, refer to Analytical Living Cost Indexes and Pensioner and Beneficiary Living Cost Index: 16th Series Weighting Patterns, 2011 (cat. no. 6472.0).
The main changes that have been incorporated in the September quarter 2011 PBLCI publication are:
From the December quarter 2011, the release date of this publication will be brought forward. The Pensioner and Beneficiary Living Cost Index will generally be released on the first Wednesday following the release of Consumer Price Index, Australia (cat. no. 6401.0). The December quarter 2011 issue of this publication is scheduled for release on Wednesday 1 February 2012.
The June quarter 2012 issue of this product will be its last issue in this format. From the September quarter 2012 issue (scheduled for release on 31 October 2012), statistics on the Pensioner and Beneficiary Living Cost Index (cat. no. 6467.0) and the Analytical Living Cost Indexes for Selected Australian Household Types (cat. no. 6463.0) will be amalgamated into a single product Selected Living Cost Indexes, Australia (cat. no. 6467.0).
Any discrepancies between totals and sums of components in this publication are due to rounding.
INDEX NUMBERS USE REFERENCE BASE OF JUNE QUARTER 2007 = 100.0
To allow comparison of the Pensioner and Beneficiary Living Cost Index with other ABS price indexes, all index numbers in this publication use a reference base of June quarter 2007 = 100.0. However, percentage changes used in this publication for the Consumer Price Index are as published in Consumer Price Index, Australia (cat. no. 6401.0). The percentage changes for Analytical Living Cost Indexes used in this publication are as published in Analytical Living Cost Indexes for Selected Australian Household Types (cat. no. 6463.0).
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.
THE PENSIONER AND BENEFICIARY LIVING COST INDEX
The Pensioner and Beneficiary Living Cost Index (PBLCI) has been designed to answer the question:
'By how much would after tax money incomes need to change to allow age pensioners and other households whose principal source of income is government benefits to purchase the same quantity of consumer goods and services that they purchased in the base period?'
The PBLCI has been derived by combining the age pensioner Analytical Living Cost Index (ALCI) and the other government transfer recipient ALCI. Living cost indexes are intended to measure the impact of changes in prices on the out-of-pocket expenses incurred by these particular household types.
In the September quarter 2011 the PBLCI rose 0.6%. The Consumer Price Index (CPI) rose 0.6% over the same period.
Since the PBLCI series began in June quarter 2007 it has risen 16.9% to the September quarter 2011, compared to 13.9% for the CPI. Differences have occurred for a number of reasons that relate to factors that affect the component series used to compile the PBLCI. The inclusion of mortgage interest and consumer credit charges and the different treatments of housing and insurance in the PBLCI result in variations between the PBLCI and the CPI series. The expenditure patterns of age pensioner and other government transfer recipient households differ from those of the overall household sector covered by the CPI, which also contributes to differences in the percentage changes.
For more information on the relationship between the PBLCI, CPI and the ALCIs, see the Explanatory Notes.
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