RDP 9502: Price Stickiness and Inflation Data Appendix

Producer price data are unpublished producer prices from the Wholesale Price Section, the Australian Bureau of Statistics. 94 industry categories were used (the transport services category was added in 1987 making 95) from a possible 109 industry categories. The 95 industry categories are listed at the end of this Appendix. The 14 remaining categories were excluded as they were not strictly price series but were implicit price deflators derived for the categories concerned.

The prices are weighted using nominal GDP(I) for each industry, available for the financial years 74/75, 78/79, 80/81, 82/83, 86/87 and 90/91. Weights are linearly interpolated for the intervening time periods.

The CPI for Australia is the Medibank and Medicare adjusted series obtained from internal Bank sources. Australian terms of trade data are terms of trade for goods and services from the ABS National Accounts, Catalogue Number 5206.0. Australian nominal trade-weighted exchange rate (TWI) is quarterly average data. Unemployment rate data for Australia are from The Labour Force: Australia, ABS Catalogue Number 6203.0.

All data series are quarterly. Annual (six-monthly) data for these series have been calculated by taking the average of the four (two) relevant quarters' data.

Annual unemployment rate data for the United States are from Employment and Earnings, the United States Department of Labour, Bureau of Labour Force Statistics.

The 95 industry categories are:
advertising construction nec meat cattle residential building
agricultural machinery containers meat products retail trade
agriculture nec cosmetics mechanical repairs road transport
agricultural services cotton ginning metal products nec rubber products
air transport cotton fabrics milk cattle, pigs sawmill products
aircraft electrical nec milk products sheep
alcohol nec electricity minerals nec sheet metal
basic iron, steel electronic mining services ships, boats
basic non-ferrous ferrous motor vehicles soap
beer, malt fishing non ferrous soft drinks
bread, cakes flour, cereal non metallic nec stationery
cement food products nec paints structural metal
cereals footwear paper products nec textiles
chemical fertilisers forestry petroleum products textiles
chemicals, basic fruit, veg photographic textiles nec
chemicals nec furniture pharmaceutical tobacco
clay products gas plastic products transport services
clothing glass poultry water
coal, oil, gas knitting publishing water transport
communication leather products pulp, paper wholesale trade
confectionary machinery nec railway wood boards
concrete man-made fibres railway transport wood products nec
concrete products manufacturing nec refrigerators woollen fabrics
construction machinery margarine, fats nec repairs nec  

Note: nec denotes not elsewhere classified