Following the implementation of the 17th Series of the Australian Consumer Price Index (CPI) in the December quarter 2017, the upper level (expenditure class) weights will be updated annually. This release presents the first time the CPI weights will be updated primarily using Household Final Consumption Expenditure (HFCE) data available from the National Accounts.
The Selected Living Cost Indexes (SLCIs), incorporating the Pensioner and Beneficiary Living Cost Index (PBLCI) and the Analytical Living Cost Indexes (ALCIs) will also be updated. These indexes are produced as a by-product of the CPI, with weights also derived from the HFCE and taking into consideration conceptual differences for some expenditure classes (ECs).
This information paper details the new weighting patterns, as well as discussing the key changes and providing an overview of data sources and methodologies used in deriving the weights.
The 2018 CPI and SLCI weight updates will be implemented in the December quarter 2018, due to be released on 30 January 2019 and 6 February 2019 respectively.