Sixteenth series review of the Consumer Price Index

Outcomes of the sixteenth series review of the Consumer Price Index

The ABS recently completed an extensive review of its CPI and has announced changes to ensure the CPI continues to meet the requirements of the Australian community. Full details about upcoming and additional proposed changes to the CPI are available in Information Paper: Outcome of the 16th Series Australian Consumer Price Index Review (cat. no. 6469.0).

The re-weighted 16th series CPI will be introduced from the September quarter 2011. As outlined in the information paper, other changes will also come into effect from September 2011.

Subject to the level of interest, the ABS is proposing to hold public information sessions to explain the planned changes to the CPI, and respond to any questions people may have about the changes. Sessions will be held in ABS capital city offices during February. To register your interest please contact the ABS at cpi.review@abs.gov.au or on (02) 6252 7124 by February 4, 2011.

Background
On 15 December 2009, Brian Pink, Australian Statistician, announced the 16th series review of the Consumer Price Index. The Consumer Price Index (CPI) is a main economic indicator, measuring inflation faced by Australian households.

This major review of the CPI focussed on the following topics:

  • Principal purpose of the CPI;
  • Compilation frequency of the CPI;
  • Evaluation of the deposit and loan facilities index;
  • Maintaining the relevance of the CPI;
  • Commodity classification;
  • Analytical series.

A number of other topics were also considered. To find out more about the issues that were considered in the review, please refer to Information Paper: Issues to be considered during the 16th series Australian Consumer Price Index review

Consultation

As part of the review process, the ABS invited user involvement in the evolution of the CPI. Organisations and individuals were asked to contribute to any topic of the CPI review. View submissions

Latest CPI

For the latest CPI information phone the National Information and Referral Service on 1300 135 070.