December key statistics
The Living Cost Indexes (LCI)
The Living Cost Indexes (LCI) have been designed to answer the question:
'By how much would after tax money incomes need to change to allow households to purchase the same quantity of consumer goods and services that they purchased in the base period?'
In the December 2019 quarter, the living costs of pensioner and beneficiary households (PBLCI) rose 0.7%. Over the same period, the living costs of other government transfer recipient households rose 0.9%, age pensioner and self funded retiree households rose 0.5% and employee households rose 0.4%. For more information about the December 2019 quarter results see Main Contributors to Change.
The inclusion of mortgage interest and consumer credit charges, and the different treatments of housing and insurance costs in the LCIs result in variations between the LCIs and the Consumer Price Index (CPI). The expenditure patterns of those households measured by the LCIs differ from those of the overall household sector in scope of the CPI; these also contribute to differences in the percentage changes.
For a discussion of the relationship between the LCIs and CPI, see the methodology page.
|Weighted average of eight capital cities, All groups||Sep Qtr 2019 to|
Dec Qtr 2019
|Dec Qtr 2018 to|
Dec Qtr 2019
|Selected Living Cost Indexes (LCIs) - Household type:|
|Pensioner and Beneficiary LCI (PBLCI)||0.7||1.8|
|Age pensioner LCI||0.5||1.8|
|Other Government Transfer Recipient LCI||0.9||1.9|
|Self-funded Retiree LCI||0.5||1.9|
|Consumer Price Index (CPI)||0.7||1.8|
Use of price indexes in contracts
Price indexes published by the Australian Bureau of Statistics (ABS) provide summary measures of the movements in various categories of prices over time. They are published primarily for use in Government economic analysis. Price indexes are also often used in contracts by businesses and government to adjust payments and/or charges to take account of changes in categories of prices (Indexation Clauses).
Use of Price Indexes in Contracts that sets out a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS published price index.
Frequently asked questions
The Frequently Asked Questions page that has answers to a number of common questions to do with price indexes and the Consumer Price Index, in particular.