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ABS responds to 'How damned lies hit the consumer price index' (The Sydney Morning Herald, 31 March 2010, pg 8, Business Day)
 

ABS welcomes CPI feedback

In response to Peter Martin's article of 31 March 2010 'How damned lies hit the consumer price index', the ABS welcomes Mr Martin's acknowledgement that we deserve credit for making the submissions to the current review of the Consumer Price Index (CPI) public.

The ABS is undertaking a major review of the CPI to ensure it remains relevant to the needs of the community. We appreciate the efforts of key users and the public in providing written submissions and providing input at public forums. Much of the feedback has been very positive, with constructive suggestions as to how the CPI can maintain its relevance and be further improved. It is unfortunate that Mr Martin has drawn the unjustified conclusion, based on selective use of critical comments contained in submissions, that the CPI is not a reliable measure of inflation.

The ABS, guided by an Advisory Group with representatives from across the community, is now considering all the issues identified in submissions to the review and will announce the outcomes later in the year. I am confident that the process will result in a CPI which remains a relevant, robust, reliable measure of inflation that continues to serve Australia well.

Ian Ewing
Deputy Australian Statistician
Australian Bureau of Statistics


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