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The process of combining lower level price indexes to produce higher level indexes.
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Highest level of the CPI, containing all the groups, subgroups and expenditure classes.
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A measure of the change in household income required to maintain a constant level of utility.
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A general indicator of the rate of change in prices paid by households for consumer goods and services.
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A commonly used term for the goods and services priced for the purpose of compiling the CPI.
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The subset of the Australian population to which the CPI specifically relates. For the 13th series CPI this is all metropolitan private households.
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The lowest level of commodity classification in the CPI and the only level for which index numbers are constructed by direct reference to price data.
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A group of similar goods or services. The level at which weights are fixed for the life of an index series and the lowest level for which indexes are regularly published. There are 101 expenditure classes in the 13th series CPI.
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The current cost in dollars per year of purchasing the same quantity of goods or services as was purchased in the weighting base period by the CPI population group.
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The first level of disaggregation of the CPI. There are 8 groups in the 13th series CPI. It is expected that a ninth group, Financial services, will be added to the CPI in early 2000.
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Household Expenditure Survey (HES)
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A sample survey conducted by the ABS to determine the expenditure patterns of private households. Data from the 1993–94 HES were the primary source of information for the expenditure weights for the 13th series CPI.
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The periodic adjustment of a money value according to changes in a price index.
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A term commonly used to refer to changes in price levels. A rise in prices is called inflation, while a fall is called deflation.
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A ratio used to join a new index series to an old index series to form a continuous series.
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For purposes of the CPI, ‘metropolitan’ refers to the six State capital cities, Darwin and Canberra.
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A composite measure of the prices of items expressed relative to a defined base period.
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Actual money values in a particular period of time.
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Changes in price levels between two or more periods. Movements can be expressed in money values, as price relatives or as percentage changes.
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A measure of price movements; the ratio of the price level in one period to the price level in another.
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Households living in private dwellings. Private dwellings exclude prisons, non self-care units for the aged, defence establishments, hospitals and other communal dwellings.
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The elimination of the effect that changes in the quality or composition of an item have on the price of that item in order to isolate the pure price change.
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The period in which the CPI is given a value of 100.0. The CPI is currently on a reference base of 1989–90.
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The selected goods and services priced for the purpose of compiling a price index.
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A technique used to introduce new items or respondents into the index calculations so that the level of the index is not affected.
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A collection of related expenditure classes. There are 33 subgroups in the 13th series CPI.
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The prices actually paid by consumers to acquire goods or services.
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Often defined as the satisfaction derived from consumption of a good or service.
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The measure of the relative importance of an item in the index regimen. Weights can be expressed in either quantity or value terms. Value weights are used in the CPI.
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The period to which the fixed quantity weights relate. The weighting base period for the 13th series CPI is 1993–94.
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