Public consultation on the Australian Bureau Statistics’ information paper Introducing a monthly Consumer Price Index (CPI) indicator for Australia closed on 13 September 2022.
Dr David Gruen AO, Australian Statistician, said: “The ABS received overwhelmingly positive feedback about the monthly CPI indicator and the value of more timely data.
“Users recognised that, while there are some limitations to the indicator including that only around two-thirds of items in the CPI basket will have up-to-date prices each month, the indicator has significant value as an early gauge of the quarterly CPI.”
Noting this, there were no further issues identified with the ABS’ proposed methodology underpinning the indicator.
Given the positive feedback and the value of more timely data to users, today the ABS announces it will release monthly CPI indicator data for July and August earlier than planned in a media release on 29 September 2022. In addition to the headline figures, the media release will include data for expenditure groups and some selected expenditure classes.
The first full monthly CPI indicator publication, including data from 2018 up to and including September 2022, will be released on 26 October 2022 alongside the September quarter CPI publication. The quarterly CPI will continue to be Australia’s key measure of inflation.
