Wednesday , February 1 2023

INE updates the basket to measure the CPI


The National Institute of Statistics (INE) has announced that, starting February 8, the inflation rate calculated by the Consumer Price Index (CPI) will be renewed by upgrading its basket of goods and services.

In this sense, the company has produced three products of basket: men's suits, land and fertilizers and legal advisory services. In turn, it adds an online subscription service to measure content consumption costs, such as Netflix or Spotify, taking into account new trends.

In addition, INE showed that 29 measured products were merged into 13.

"This does not mean that it does not stop the discontinuity of products, but on the one hand is still not as a part of the product."

Food and non-alcoholic beverages (76 products), alcoholic beverages and tobacco (8 products), housing and basic services (16 products), healthcare (22 products), seven sections of the same groups, classes, transport (24 products), communications (6 products) and education (11 products).

On the other hand, products in clothing and footwear have dropped from 35 to 28. One product was eliminated (the costume of men or both), and 11 pieces were merged with five. For example, baby clothes for babies became clothes for babies and underwear.

In the section of equipment and home storage the number of products decreased from 41 to 36, 10 products were combined into 5. For example, the lamp and decorative items were decorative items. In the Entertainment and Culture section, products ranged from 38 to 37. 1 new, online subscription service added; soil and fertilizer were eliminated and merged into 2 products: music and digital film, digital storage unit turned into a digital storage unit.

In the restaurants and hotels section, while 6 of the previous products have been merged, the number of products declined from 11 to 7. For example, the removal, retrieval, and packaging of the empanadas are made for cookware. Finally, after the elimination of legal consultancy services, the division of goods and various services has been reduced from 33 to 32.

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