6467.0 - Selected Living Cost Indexes, Australia, Dec 2018 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 06/02/2019
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DECEMBER KEY POINTS
TIME SERIES DATA
Longer time series of statistics presented in this product are available from the Downloads tab for this product on the ABS website. They are available as Time Series Workbooks:
CHANGES IN THIS ISSUE
This issue includes the introduction of updated weighting patterns using 2016-17 Household Final Consumption Expenditure data available from the Australian System of National Accounts (cat. no. 5401.0). For more details on these changes and the updated weighting patterns, refer to Information paper: Introduction of the Consumer Price Index Weight Update, 2018 (cat. no. 6470.0.55.002).
Any discrepancies between totals and sums of components in this publication are due to rounding.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.
THE LIVING COST INDEXES
The Living Cost Indexes (LCI) have been designed to answer the question:
'By how much would after tax money incomes need to change to allow households to purchase the same quantity of consumer goods and services that they purchased in the base period?'
In the December quarter 2018, the living costs of pensioner and beneficiary households (PBLCI) rose 0.7%. Over the same period, the living costs of other government transfer recipient households rose 0.9%, employee households rose 0.6%, self-funded retiree households rose 0.5% and age pensioner households rose 0.4%. For more information about the December quarter 2018 results see Main Contributors to Change.
These differences arise for a number of reasons. The inclusion of mortgage interest and consumer credit charges and the different treatments of housing and insurance costs in the LCIs result in variations between the LCIs and the CPI series. The expenditure patterns of those households measured by the LCIs differ from those of the overall household sector in scope of the CPI; these also contribute to differences in the percentage changes.
For a discussion of the relationship between the LCIs and CPI, see the Explanatory Notes.
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