6470.0.55.002 - Information Paper: Introduction of the Consumer Price Index Weight Update, 2018  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 12/12/2018  First Issue
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PREFACE


The purpose of this information paper is to present the 2018 weight update for the Consumer Price Index (CPI) and Selected Living Cost Indexes (SLCIs). The first publications based on the 2018 update will be in respect of the December quarter 2018, which are due to be released on 30 January 2019 (CPI) and 6 February 2019 (SLCIs).

The Australian Bureau of Statistics (ABS) has traditionally updated the CPI weights in line with the release of the ABS’s Household Expenditure Survey (HES). The 2018 CPI weight update marks the first time the ABS has predominately used Household Final Consumption Expenditure (HFCE) data available from the National Accounts to update weights for the inter-HES years. This approach enables the CPI to be re-weighted on an annual basis, as outlined in the information paper An Implementation Plan to Annually Re-weight the Australian CPI. HES data will still be used to calculate weights for the years it is available.

The SLCIs, incorporating the Pensioner and Beneficiary Living Cost Index (PBLCI) and the Analytical Living Cost Indexes (ALCIs), have also been reviewed as part of the 2018 update.

From 2018, the CPI and SLCIs will be re-weighted annually each December quarter. The main data source for updating the weights for the inter-HES years will be HFCE data from the National Accounts.

This information paper provides an overview of the changes to the CPI and SLCIs that will be introduced with the 2018 update and presents the updated weighting patterns. There are no changes in relation to the CPI and SLCIs classification structure or published data in respect of the 2018 update.

Readers requiring further information should contact:


Consumer Price Index Section
Australian Bureau of Statistics
PO Box 10
BELCONNEN ACT 2616
Telephone: 02 6252 6654
Email: prices.statistics@abs.gov.au



David Kalisch
Australian Statistician