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 17th series review is a minor review of the CPI, consisting of an update of the upper level (expenditure class) weights in line with the latest Household Expenditure Survey (HES), and a simple examination of the CPI structure and methodologies.
The SLCIs, incorporating the Pensioner and Beneficiary Living Cost Index (PBLCI) and the Analytical Living Cost Indexes (ALCIs) have also been reviewed as part of the 17th series. These indexes are produced as a by-product of the CPI, with weights also derived from the Household Expenditure Survey (HES).
This information paper details the new weighting patterns, as well as discussing the key enhancements in the 17th series and providing an overview of data sources and methodologies used in deriving the weights. The paper also provides an updated estimate of the amount of upper level substitution bias in the Australian CPI.
The 17th series CPI and SLCI weights will be implemented in the December quarter 2017, due to be released on 31 January 2018 and 7 February 2018 respectively.