ABS to issue full monthly inflation read from November
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The news: The Australian Bureau of Statistics (ABS) will move from reporting the latest consumer price index figure from a quarterly basis to a monthly basis starting on 26 November.
The context: The first full monthly CPI figure will be for the October 2025 reference month, enabling internationally comparable monthly CPI as the primary measure of headline inflation, in line with all other G20 countries.
The monthly CPI data series and new monthly analytical series will go back to April 2024, when data collection frequency first increased.
The monthly CPI indicator measure, which has been released since 2022, will cease to be produced.
Earlier this month, the Reserve Bank of Australia’s Michele Bullock explained that the decision to hold interest rates steady was unexpected in part because “reasonable people can differ in their interpretations of data” in reference to the monthly CPI indicator.
Bullock flagged her belief that the measure was “a little too volatile and not quite representative of what’s really going on with inflation”.
"The quarterly CPI is the comprehensive thing that gives us the best read," she added.
The new monthly measure includes comprehensive coverage of monthly price changes whereas the monthly indicator only tracked about two thirds of goods and services.
The transition required the ABS to collect price data more frequently and a rebuild of “the IT system currently used to compile the CPI in a secure, efficient cloud environment”, according to a statement.
A quarterly CPI figure will still be produced but it will be calculated as the average of three consecutive monthly CPIs. The current CPI quarterly seasonally adjusted series will continue for at least 18 months.
What they said: Australian Bureau of Statistics head David Gruen said the new data will “provide better information for monetary and fiscal policy decisions that have a direct impact on all Australians”.
The source: Australian Bureau of Statistics media release
