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Reviews to the compilation of the Consumer Price Index at the turn of the year

The compilation of the Consumer Price Index will be reviewed starting from the Index for January 2013 so that the Index becomes an annual chain-linked index.

In practice, this means that the weight structure of the Consumer Price Index will in future be updated every year. The new weight structure will take effect starting from the Index for January of each year. At the same time, changing weights will be introduced for seasonal commodities, such as winter and summer sports equipment. In addition to the weight structure, the commodity structure can be updated yearly, if needed. The base year of the Index remains unchanged (2010=100).

The annual updating of the weight structure leads to changes in the calculation method. In the future, the calculation will be made so that each index series is chained forward with changes in the Index calculated according to the new weight structure. A more detailed description of the compilation method is available in the updated Consumer Price Index 2010=100 Handbook for Users to be published in March.

These changes improve the quality of the Index, because with their help, changes in the consumption structure can be taken into account faster.

Inquiries: Jaana Hellman 09 1734 2661, Johanna Leivo 09 1734 3397, kuluttajahintaindeksi@tilastokeskus.fi

 

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Last updated 18.1.2013