Additional data series
The Electricity series in the monthly CPI indicator has been updated with monthly prices from October 2021 onwards. No changes have been made to the Electricity series prior to October 2021. Electricity prices for periods prior to October 2021 are updated quarterly in month 3 with carry forward imputation used in the months where prices were not updated.
The inclusion of this new monthly Electricity series has resulted in revisions to the monthly CPI indicator dating back to October 2021. The revision is consistent with advice provided by the ABS, ‘it should be noted that the monthly CPI indicator may be routinely subject to revision, in contrast to the quarterly CPI which is only revised in exceptional circumstances’.
The new monthly Electricity series will be used to compile the Electricity series in the quarterly CPI from the March quarter 2023 onwards. There will be no revisions to the quarterly CPI.