6401.0.60.005 - Information Paper: An Implementation Plan to Annually Re-weight the Australian CPI, 2017  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 19/06/2017  First Issue
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The Australian Bureau of Statistics (ABS) maintains a program of periodic reviews of the Consumer Price Index (CPI) to ensure it continues to meet community needs. The 16th Series CPI Review (ABS 2010) was the last comprehensive review which examined CPI concepts, methodologies and data sources. A number of topics and strategies were considered to maintain the relevance of the CPI in a dynamic environment, particularly given recent developments in methods and approaches.

The ABS is currently conducting a research program aimed at re-examining the current approaches to compiling the CPI. These developments present new opportunities to enhance the CPI.

In July 2016, the ABS released the information paper 'Increasing the Frequency of CPI Expenditure Class Weight Updates' (ABS 2016), which investigated the feasibility of using Household Final Consumption Expenditure (HFCE) data from the National Accounts to more frequently update Australia's CPI expenditure class (EC) weights. This paper discusses the consultation undertaken by the ABS as part of this investigation, and outlines an implementation plan to annually re-weight the CPI.