6345.0 - Wage Price Index, Australia, Dec 2019 Quality Declaration
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 19/02/2020
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December Key Statistics
The seasonally adjusted WPI:
Changes in this release
In this release the quarterly movement graph in the Main Features has changed from Trend to Seasonally Adjusted to better align with the Key Statistics identified. Trend data is available in Table 1 of the 'Downloads' tab.
Use of Price Indexes in Contracts
Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).
Prices Indexes and Inflation contains a page Use of Price Indexes in Contracts that sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.
Frequently Asked Questions
The Wage Price Index FAQs page has answers to a number of common questions to do with price indexes and the Wage Price Index, in particular.
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