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CHAPTER 1 INTRODUCTION
1.6 These papers describe the review process, the issues considered, the review outcomes, the re-weighting process and outline the changes from the previous series.
1.7 The 15th Series CPI introduced in the September quarter 2005 was a minor review. The item weights were revised in line with expenditure patterns identified in the 2003-04 Household Expenditure Survey (HES) and a new sub-group called Financial services was introduced into the CPI. The ABS published an Information Paper describing the changes:
1.8 The 14th Series CPI was introduced in the September quarter 2000, after a minor review completed early in 2000. The changes introduced in the 14th series were considered necessary to address issues arising from the introduction of The New Tax System (TNTS) on 1 July 2000. As part of the review process the ABS published two Information Papers describing the changes:
1.9 The 13th Series CPI, which followed a major review of the index, was introduced in the September quarter 1998. Several important changes were made to the index at that time. Prior to the September quarter 1998, the CPI was compiled primarily to be used for income adjustment through wage indexation. This had implications for the coverage and design of the index. It was limited to the expenditures made by households whose principal source of income was wages. It measured out-of-pocket living expenses, including mortgage interest payments.
1.10 Since the September quarter 1998, the principal purpose of the CPI has been to measure inflation faced by households to support the operation of macroeconomic policy decision making. The CPI covers the expenditures of all households (not just those whose principal source of income is wages, as was the case before 1998) and measures the changes in the prices of a basket of goods and services acquired each period. The cost of housing is measured as the price of a new home (excluding land). Mortgage interest payments are excluded.
1.11 As part of the 13th Series review, the ABS published three Information Papers:
1.12 In recognition of the interest in the extent to which the impact of price change varies across different groups in the community, in addition to the CPI, the ABS compiles Analytical Living Cost Indexes for Selected Australian Household Types (cat. no. 6463.0) and the Pensioner and Beneficiary Living Cost Index (cat. no. 6467.0).
1.13 The ABS intends to update this manual periodically. Therefore, the ABS would welcome comments from the users of statistics covered in this publication. You may direct your comments or questions to:
Australian Bureau of Statistics
PO Box 10
BELCONNEN, ACT, 2616
Telephone: 02 6252 6654
Fax: 02 6252 7060
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