6467.0 - Selected Living Cost Indexes, Australia, Sep 2012
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 31/10/2012
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SEPTEMBER KEY FIGURES
CHANGES IN THIS ISSUE
From the September quarter 2012, all index numbers are calculated on a new index reference period of 2011–12. This results in the index numbers for each index series being reset to 100.0 for the financial year 2011–12. Period-to-period percentage changes may differ slightly to those previously published due to rounding and the re-referencing. These differences do not constitute a revision. Information on re-referencing and re-referencing conversion factors are available in Appendix 1 of this publication. Further information on re-referencing is available in Chapter 12 of Consumer Price Index Concepts, Sources and Methods, 2011 (cat. no. 6461.0) and within Re-referencing Frequently Asked Questions.
From the September quarter 2012, this product now presents information which had previously been released in two separate products, Pensioner and Beneficiary Living Cost Index (cat. no. 6467.0) and Analytical Living Cost Indexes for Selected Australian Household Types (cat. no. 6463.0).
From the September quarter 2012, the Downloads tab of this issue contains three Time Series Workbooks which present longer time series of the statistics presented in this product.
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 September quarter 2012, changes in the living costs of pensioner and beneficiary households (PBLCI) rose 1.6%. Over the same period, the living costs of age pensioner households rose 1.9%, self-funded retiree households rose 1.7%, other government transfer recipient households rose 1.4% and employee households rose 0.9%. For more information about the September quarter 2012 results, see Main Contributors to Change.
These differences have come about 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 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 covered by the CPI. This also contributes 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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