Meanings of index number and WPI index number
33 Meanings of index number and WPI index number
The index number for a quarter is the All Groups Consumer Price Index number, being the weighted average of the 8 capital cities, published by the Australian Statistician in respect of that quarter.
The WPI index number for a quarter is the Wage Price Index (quarterly index/total hourly rates of pay excluding bonuses/Australia/private and public/all industries) number published by the Australian Statistician for the quarter.
Subject to subsection (3), if, at any time before or after the commencement of this Act:
the Australian Statistician has published or publishes an index number or a WPI index number in respect of a quarter; and
that index number or WPI index number is in substitution for an index number or WPI index number, as the case requires, previously published by the Australian Statistician in respect of that quarter;
disregard the publication of the later index number or WPI index number for the purposes of this section.
If, at any time before or after the commencement of this Act, the Australian Statistician has changed or changes the index reference period for the All Groups Consumer Price Index or the Wage Price Index, then, in applying this section after the change took place or takes place, have regard only to index numbers or WPI index numbers, as the case requires, published in terms of the new index reference period.
This Act’s bill:Explanatory memorandumSecond reading speech
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