CPI - INTRODUCTION OF THE 15TH SERIES IN SEPTEMBER 2005
The CPI measures the change over time in the total price of a fixed basket of goods and services acquired by household consumers. Approximately every five years, the basket of goods is updated to reflect changes in household spending patterns and the range of goods and services available. The quantities underlying the base period expenditures are then fixed over the life of the basket, with the expenditures being updated by the movements in the price relatives in each period. The new series will be introduced in September 2005. Details of the changes are contained in an appendix to the March quarter 2005 issue of Consumer Price Index, Australia (cat.no. 6401.0).