6467.0 - Selected Living Cost Indexes, Australia, Mar 2014 Quality Declaration
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 30/04/2014
|Page tools: Print Page Print All|
MARCH KEY POINTS
CHANGES IN THIS ISSUE
For the quarter beginning 1 January 2014, the ABS increased the use of transactions data to compile the consumer price index (CPI), and the selected living cost indexes (SLCI). The ABS has replaced field collected prices with prices derived from transactions data for a subset of products within the total CPI sample where analysis has shown transactions data provides a reliable measure of product prices. The price movement in the March quarter 2014 for this subset of products was calculated using historical and current quarter transactions data. A detailed description of the use of transactions data to compile the Australian CPI (and SLCI) can be found on the ABS website in the September quarter 2013 issue of Consumer Price Index, Australia (cat. no. 6401.0).
Any discrepancies between totals and sums of components in this publication are due to rounding.
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:
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 March quarter 2014, the living costs of pensioner and beneficiary households (PBLCI) rose 1.1%. Over the same period, the living costs of other government transfer recipient households rose 1.1%, age pensioner households rose 0.9%, employee households rose 0.7% and self-funded retiree households rose 0.3%. For more information about the March quarter 2014 results, see Main Contributors to Change.
These differences arise for a number of reasons. The inclusion of mortgage interest and consumer credit charges in the living cost indexes has a significant impact on employee and other government transfer recipient households. 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.
These documents will be presented in a new window.