The suite of price indexes
The Producer and International Trade Price Indexes are part of a broader system of price statistics produced by the ABS that apply to different aspects of the economy.
The suite of price indexes currently released by the ABS are:
- Producer Price Indexes
- International Trade Price Indexes
- Consumer Price Index
- Residential Property Price Index
- Attached Dwellings Price Index
- House Price Index
- Wage Price Index
Below is a summary of the other suite of price statistics compiled by the ABS. They provide an integrated and consistent view of price developments pertaining to production, consumption, and international transactions of products within the Australian economy.
Consumer Price Index
The Consumer Price Index measures quarterly changes in the price of a 'basket' of goods and services which account for a high proportion of expenditure by the Consumer Price Index population group (i.e. metropolitan households). This 'basket' covers a wide range of goods and services, arranged in the following eleven groups:
- Food and non-alcoholic beverages
- Alcohol and tobacco
- Clothing and footwear
- Furnishings, household equipment and services
- Recreation and culture
- Insurance and financial services.
Capital city indexes used by the Consumer Price Indexes are based on the 2011 Australian Statistical Geography Standard Greater Capital City Statistical Areas. The capital city indexes measure price movements over time in each city individually. They do not measure differences in retail price levels between cities.
The Consumer Price Index is published quarterly in the Consumer Price Indexes, Australia release.
Selected Living Cost Indexes
The Consumer Price Index is deconstructed into various secondary and tertiary indexes known the Selected Living Cost Indexes.
The Selected Living Cost Indexes provides indexes for four individual population subgroups:
- Employee households;
- Age pensioner households;
- Other government transfer recipient households; and
- Self-funded retiree households.
Also included are the:
- Pensioner and Beneficiary Living Cost Index which provides an index for age pensioner and other government transfer recipient households whose principal source of income is government benefits; and
- Analytical Living Cost Indexes which provide the impact of price change across different groups of households in the Australian population
The Selected Living Cost Indexes are published quarterly in the Selected Living Cost Indexes, Australia release.
Residential Property Price Index
The Residential Property Price Index measures changes in prices of all residential dwellings within the eight capital cities, defined by the 2011 Australian Statistical Geography Standard Greater Capital City Statistical Areas.
Residential property price indexes measure price change of the stock of residential dwellings over time.
The indexes serve the dual purpose of:
- a macroeconomic indicator of residential property price change.
- supporting the compilation of the non-financial assets component of the household balance sheet in the Australian System of National Accounts.
The Residential Property Price Index is published quarterly in Residential Property Price Indexes: Eight Capital Cities release.
Wage Price Index
The Wage Price Index contains indexes measuring changes in the price of wages and salaries in the Australian labour market.
Individual indexes are compiled for various combinations of state/territory, sector (private/public) and industry division. Industry is classified according to the Australian and New Zealand Standard Industrial Classification. Four Wage Price Indexes are constructed and published quarterly and cover:
- ordinary time hourly rates of pay excluding bonuses index
- ordinary time hourly rates of pay including bonuses index
- total hourly rates of pay excluding bonuses index
- total hourly rates of pay including bonuses index.
The Wage Price Index is published quarterly in Wage Price Index, Australia.
Equity of access
The Producer and International Trade Price Indexes statistics are made available simultaneously to everyone via the ABS website. This approach supports the principle of equity of access.
All statistics are subject to an embargo until 11.30 a.m. (Canberra time) on the day of release. No information about the price indexes is publicly available prior to the lifting of the embargo.
Revisions are only applied if the effect of the amended or revised data is significant. In the event of a revision the affected data will be highlighted in the publication, with a reason for revision provided in the commentary.