PRICE INDEXES AND CONTRACT PRICE INDEXATION
Price indexes are often used in contracts by businesses and government in Indexation Clauses. The purpose of Indexation Clauses are to adjust payments and/or charges to take account of changes in categories of prices. The ABS has recently released a set of guidelines that outline a range of issues that should be taken into account by parties considering including an Indexation Clause in a contract using an ABS price index. These guidelines can be found in Australian Consumer Price Index: Concepts, Sources and Methods (cat. no. 6461.0) which is available on-line from the Statistical Concepts Library on the ABS web site. For further information contact Steve Whennan on (02) 6252 6251 or email steve.whennan@abs.gov.au.
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