For an overview of the Inflation Tracker Tool and its global application, read The Inflation Tracker Tool.
What is the Australia Inflation Tracker Tool?
Rising inflation is forcing businesses to quickly change their strategy to account for price increases. The Australia Inflation Tracker Tool helps you understand different industries’ exposure to inflation and gain a holistic view of how inflation affects industries, products and supply chains.
Downloadable as an Excel file in the IBISWorld database, the tool combines several worksheets that deliver custom content based on your selections.
Index Tracker worksheet
The Index Tracker worksheet helps you understand current inflation levels through the Consumer Price Index (CPI) and Wage Price Index (WPI) and their respective CPI sectors.
Use this worksheet by selecting an index on the left side of the tool. To the right, you’ll see data from the Australian Bureau of Statistics (ABS). We pull out relevant figures from 2021 and 2022, breaking down the quarterly change and the yearly change.
Farthest to the right, you’ll see the weightings for each index item so you can understand how much each item contributes to the total 12-month rolling inflation rate.
Industry Tracker worksheet
The Industry Tracker functions as an industry warning system. In this worksheet, you can gain a quick understanding of which industries are at risk of significant CPI and wage costs.
You can view all industries within a sector using the sector menu at the top of the worksheet. Or scroll right to see the overall risk levels for each sector. You’ll also find top 10 lists within the sector to help you cut down on sorting and filtering steps.
Industry Focus worksheet
The Industry Focus worksheet goes beyond the sector view and into specific industry drill-downs. Currently available for ANZSIC 2006 titles, the data on this worksheet allows for better inspection of Input-Output Product Classification (IOPC) items and helps you measure inflation across the supply chain.
Here you’ll find the top buying and supplying industries within the supply chain, as well as a holistic view of the supply chain, showing how each relevant industry is affected by inflation and how it's weighted.
Custom View worksheet
If sector groupings aren't right for you, the Custom View worksheet can help you create and track specialised groups based on your business activities.
You can create custom groups within the Settings worksheet, which are then displayed in the dropdown menu on the Custom View worksheet. Set up your custom groups in advance, then toggle between different groups based on your chosen naming conventions.
Descriptions and Definitions
The Descriptions and Definitions worksheet offers a quick and accessible user guide where you can find information about how to use each worksheet and information about our sources and methodology.
Update History tab
The Update History tab is updated with each new release. Get insight into the latest changes and access release notes that detail the reasons and/or methods behind each change.
Other usage tips
Microsoft Office may display a “Security Risk” warning and block macros from running when the tool is first downloaded.
The Australia Inflation Tracker Tool does not use macros that scrape data from the user’s own computer. However, it does require other macros to successfully run.
To unblock macros, click “Learn More” and follow the steps in Microsoft’s documentation on unblocking macros.
If you download the tool and do not see this “Security Risk” warning, make sure macros are unblocked by following the directions in Microsoft’s documentation on changing macro settings.
For additional questions regarding the Australia Inflation Tracker Tool, please contact your Client Relationship Manager. If you don’t have an IBISWorld account, please contact us to learn more about our membership options.