Revision of consumer price index basket in Zimbabwe
The Zimbabwe Statistical Agency (ZIMSTAT) introduced a revised Consumer Price Index (CPI) basket, effective January 2013. Periodic revisions of the expenditure weights are necessary so that the CPI reflects price changes of current spending patterns. The latest 2012 revision of CPI basket shows an i...
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2016
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| Online Access: | http://www.ossrea.net/publications/images/stories/ossrea/bulltien-october-2013.pdf http://hdl.handle.net/11408/1421 |
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| author | Chikoko, Laurine Kupeta, Kennedy Ngundu, Tawedzerwa |
| author_facet | Chikoko, Laurine Kupeta, Kennedy Ngundu, Tawedzerwa |
| author_sort | Chikoko, Laurine |
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| description | The Zimbabwe Statistical Agency (ZIMSTAT) introduced a revised Consumer Price Index (CPI) basket, effective January 2013. Periodic revisions of the expenditure weights are necessary so that the CPI reflects price changes of current spending patterns. The latest 2012 revision of CPI basket shows an increase in weight of basic items such as food and non-alcoholic beverages, education, housing, water, electricity, gas and other fuels, health, clothing and footwear divisions of the CPI. The depressed disposable incomes have led to consumers reverting to the ‘basic’ basket. Communication division, however, increased in weight, owing to the impact of technology on the consumers. As the Consumer Price Index is used for many purposes, and affects various policies, it is important to maintain the public credibility on inflation statistics through improving its timeliness, relevance and accuracy. In this regard, the CPI basket should be frequently updated. Thus, the relatively long time of about 11 years taken before revising the CPI basket in Zimbabwe in the face of clear changing expenditures, is not welcome and may have contributed to a larger extent to criticisms about the credibility of inflation figures in the country. |
| format | Article |
| id | ir-11408-1421 |
| institution | My University |
| language | English |
| publishDate | 2016 |
| record_format | dspace |
| spelling | ir-11408-14212022-06-27T13:49:06Z Revision of consumer price index basket in Zimbabwe Chikoko, Laurine Kupeta, Kennedy Ngundu, Tawedzerwa Zimbabwe Statistical Agency Consumer Price Index Basket, Zimbabwe The Zimbabwe Statistical Agency (ZIMSTAT) introduced a revised Consumer Price Index (CPI) basket, effective January 2013. Periodic revisions of the expenditure weights are necessary so that the CPI reflects price changes of current spending patterns. The latest 2012 revision of CPI basket shows an increase in weight of basic items such as food and non-alcoholic beverages, education, housing, water, electricity, gas and other fuels, health, clothing and footwear divisions of the CPI. The depressed disposable incomes have led to consumers reverting to the ‘basic’ basket. Communication division, however, increased in weight, owing to the impact of technology on the consumers. As the Consumer Price Index is used for many purposes, and affects various policies, it is important to maintain the public credibility on inflation statistics through improving its timeliness, relevance and accuracy. In this regard, the CPI basket should be frequently updated. Thus, the relatively long time of about 11 years taken before revising the CPI basket in Zimbabwe in the face of clear changing expenditures, is not welcome and may have contributed to a larger extent to criticisms about the credibility of inflation figures in the country. 2016-05-19T14:40:09Z 2016-05-19T14:40:09Z 2013 Article http://www.ossrea.net/publications/images/stories/ossrea/bulltien-october-2013.pdf http://hdl.handle.net/11408/1421 en OSSREA Bulletin;Vol. 10, No. 3; p. 20-42 open |
| spellingShingle | Zimbabwe Statistical Agency Consumer Price Index Basket, Zimbabwe Chikoko, Laurine Kupeta, Kennedy Ngundu, Tawedzerwa Revision of consumer price index basket in Zimbabwe |
| title | Revision of consumer price index basket in Zimbabwe |
| title_full | Revision of consumer price index basket in Zimbabwe |
| title_fullStr | Revision of consumer price index basket in Zimbabwe |
| title_full_unstemmed | Revision of consumer price index basket in Zimbabwe |
| title_short | Revision of consumer price index basket in Zimbabwe |
| title_sort | revision of consumer price index basket in zimbabwe |
| topic | Zimbabwe Statistical Agency Consumer Price Index Basket, Zimbabwe |
| url | http://www.ossrea.net/publications/images/stories/ossrea/bulltien-october-2013.pdf http://hdl.handle.net/11408/1421 |
| work_keys_str_mv | AT chikokolaurine revisionofconsumerpriceindexbasketinzimbabwe AT kupetakennedy revisionofconsumerpriceindexbasketinzimbabwe AT ngundutawedzerwa revisionofconsumerpriceindexbasketinzimbabwe |