Following the information paper Introducing a monthly CPI indicator, today marks the first release of the monthly CPI indicator publication. The next release of the monthly CPI indicator (for October 2022 month) will be 30 November.
The quarterly CPI is Australia’s key measure of inflation. This is different to the monthly CPI indicator which is available in the monthly CPI indicator publication. It should be noted that in contrast to the quarterly CPI which is only revised in exceptional circumstances, the monthly CPI indicator may be routinely subject to revision.
Measuring Rents in the CPI
New data source
- As outlined in the ABS’ information paper Introducing a monthly CPI indicator for Australia, from July 2022 the ABS has incorporated a new data source to measure the Rents series in the monthly CPI indicator and the quarterly CPI.
- The Rents series prior to July 2022 was measured on a quarterly basis using a survey of approximately 4,000 rental properties collected directly from real estate agents.
- The new dataset obtained by the ABS is updated monthly and includes approximately 480,000 rental properties that are used to produce the CPI Rents series across all capital cities.
Further information on how CPI measures the Rents series can be found in the Article archive.