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SEPTEMBER KEY POINTS
CHANGES IN THIS ISSUE
This release incorporates revisions to the mortgage interest charges series and aggregate Selected Living Cost Index series for the period from the September quarter 2012 to the June quarter 2013.
The corrected cells have been annotated. The revisions correct a compilation error in the mortgage interest charges series.
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070.
THE LIVING COST INDEXES
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 September quarter 2013, changes in the living costs of pensioner and beneficiary households (PBLCI) rose 1.2%. Over the same period, the living costs of self-funded retiree households rose 1.5%, age pensioner households rose 1.3%, other government transfer recipient households rose 1.1% and employee households rose 0.8%. For more information about the September quarter 2013 results, see Main Contributors to Change.
These differences have come about for a number of reasons. The inclusion of mortgage interest and consumer credit charges in the living cost indexes has a significant impact on employee and other government transfer recipient households. The inclusion of mortgage interest and consumer credit charges and the different treatments of housing and insurance in the LCIs result in variations between the LCIs and the CPI series. The expenditure patterns of those households measured by the LCIs differ from those of the overall household sector covered by the CPI; these also contribute to differences in the percentage changes.
For a discussion of the relationship between the LCIs and CPI, see the Explanatory Notes.
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