STATIN upgrades CPI basket with new goods

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STATIN upgrades CPI basket with new goods

Wednesday, July 15, 2020

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KINGSTON, Jamaica — The Statistical Institute of Jamaica (STATIN) said today that it has recently updated the commodities used to measure the Consumer Price Index (CPI).

The basket, as the CPI is commonly known, has not been updated in the last 10 years.

The new series, introduced in April, comprises the goods and services most commonly consumed by Jamaicans, and their associated weights based on the 2017 Household Expenditure Survey.

The updated basket contains some 300 commodities.

Some of the items added to the basket includes technology products, health food products, increased activities in entertainment and recreation, and beauty products including braids and weaves, among others.

Speaking at a digital press briefing held earlier today, STATIN's director general Carol Coy said that the CPI was revised to identify new commodities that have entered or left the market, account for quality changes in products, and capture expenditure changes in products.

Kellaray Miles

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