their prices may change multiple times each month) and for these items, frequent price observations are necessary to obtain a reliable measure of the average price change. The frequency of price collection by item varies as necessary to obtain reliable price measures. The same price data is used in the monthly CPI indicator as the quarterly CPI Consumer Price Index, Australia. The monthly CPI indicator data is published at the national level, derived as a weighted average of the eight capital cities.įurther information about the CPI is contained in Consumer Price Index: Concepts, Sources and Methods. When combined with quarterly and annual price collections, the new monthly CPI indicator represents up-to-date prices for between 62 and 73 per cent of the weight of the CPI basket, depending on the month in the quarterly cycle (see section on Imputation). Monthly price data is available for 43% of the CPI basket. In particular, the frequency of price collection and the methods used to compile the two indexes will lead to differences between the monthly CPI indicator and the quarterly CPI. As a result, the monthly CPI indicator has some deficiencies relative to the quarterly CPI. These prices are collected at a range of frequencies including weekly, monthly, quarterly and annually.Ĭonceptually, the monthly CPI indicator will include all the items of the quarterly CPI basket, however, not all items in the basket will be updated with new prices each month. The ABS collects a large volume of data on the prices faced by consumers.
The monthly CPI indicator has been developed using existing data sources used to produce the quarterly CPI to provide a monthly CPI indicator of inflation.
0 kommentar(er)
