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RBA Glossary definition for CPI

CPI – Consumer Price Index. A general measure of price inflation for the household sector compiled and published by the Australian Bureau of Statistics.

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Appendix 3: An Alternative Model of the CPI

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
RDP 9510: Modelling Inflation in Australia Appendix 3: An Alternative Model of the CPI.
https://www.rba.gov.au/publications/rdp/1995/9510/appendix-3.html

The Model's Properties

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
First, the CPI adjusts slowly to shocks, even though lag lengths in (17) are short. ... models of the Australian CPI are in differences only and require substantially longer lags.
https://www.rba.gov.au/publications/rdp/1995/9510/models-properties.html

The Data

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
In this paper, “CPI” always means this underlying CPI unless explicitly noted otherwise. ... Figure 1 plots the quarterly inflation rates for underlying and headline CPI, denoted Δ.
https://www.rba.gov.au/publications/rdp/1995/9510/data.html

Modelling Inflation in Australia

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
Research Discussion Paper – RDP 9510 Modelling Inflation in Australia. Gordon de Brouwer and Neil R. Ericsson. November 1995. 264. KB. The views expressed herein are those of the authors and do not necessarily reflect those of the Reserve Bank of
https://www.rba.gov.au/publications/rdp/1995/9510/

Appendix 1: Data Definitions

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
Total CPI. 109.8. less:. Fresh fruit and vegetables. 1.51. Mortgage interest charges. ... Breaks in the adjusted series occur, however, wherever the CPI has been reweighted.
https://www.rba.gov.au/publications/rdp/1995/9510/appendix-1.html

Introduction

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
Using quarterly series over 1977–1993, Section 4 analyses the CPI and its long-run determinants as a system, testing for and finding cointegration between them. ... As an error correction model, this model of Australian CPI captures long-run effects
https://www.rba.gov.au/publications/rdp/1995/9510/introduction.html

Integration and Cointegration

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
The negative coefficient implies that an “excess” mark-up induces a lower CPI inflation rate. ... For instance, the null hypothesis of a stationary CPI implies that the cointegrating vector is (1000)′.
https://www.rba.gov.au/publications/rdp/1995/9510/integration-and-cointegration.html

Appendix 2: Design of the Empirical ECM

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
autoregressive distributed lag for the CPI is simplified to the ECM in (17). ... Table A3: A Partially Restricted Error Correction Representation for the Underlying CPI.
https://www.rba.gov.au/publications/rdp/1995/9510/appendix-2.html

Encompassing and Forecasting

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
inflation. Third, the precise measure of the CPI tends to vary across models. ... Several economic determinants are necessary to understand the behaviour of the Australian CPI.
https://www.rba.gov.au/publications/rdp/1995/9510/encompassing-and-forecasting.html

Conclusions

1 Nov 1995 RDP 9510
Gordon de Brouwer and Neil R. Ericsson
in the coefficients of the CPI equation.
https://www.rba.gov.au/publications/rdp/1995/9510/conclusions.html