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Reuters
Reuters
Business

Australian statistics office revises CPI series after fruit error

SYDNEY (Reuters) - Australia's statistics bureau said on Monday it has discovered an "irregularity" in its inflation series for fruit since December 2017 though the issue has not impacted the headline readings of consumer price index (CPI).

The error, which has now been corrected, has caused "negligible and sporadic impact" on seasonally adjusted trimmed mean and weighted median measures that are closely followed by the country's central bank.

The Australian Bureau of Statistics (ABS) said it has amended seasonally adjusted data for food and non-alcoholic beverages group, fruit and tradables.

It did not provide details on the exact nature of the error.

In 2014, the ABS had admitted to errors in its closely-watched employment series.

(Reporting by Swati Pandey; Editing by Shri Navaratnam)

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