Part A of this paper introduces experimental producer and international trade price index series within a Stage of Production (SOP) framework. The SOP framework represents an important element of the strategy for the systematic analysis of inflation as outlined in the ABS Information Paper: An Analytical Framework for Price Indexes in Australia (Cat. no. 6421.0) released on 24 February 1997.
The experimental SOP indexes are intended to increase the analytical value of the established producer and international trade price indexes by presenting the information within an economy-wide framework. They are designed to supplement, rather than replace, the existing range of measures.
Part B of the paper presents experimental producer price indexes for the output of a selection of transport and storage, and property and business services industries. These series represent the first release of indexes compiled under a long-term development program which will progressively expand coverage of the services sector of the economy.
The indexes will be useful in their own right. They will also play an important role in improving the quality of the national accounts as well as contributing to inflation measurement through their incorporation within the SOP framework.
The ABS is keen to obtain user reactions to the developments described in this paper, particularly in respect of the issues raised in chapters 6 and 11.
Comments can be directed to, and further information may obtained from:
Producer Price Indexes Section
Australian Bureau of Statistics
PO Box 10
BELCONNEN ACT 2616
Telephone: Canberra 02 6252 6248
Facsimile: Canberra 02 6252 7060