Deputy Director-General of the Statistical Institute of Jamaica, STATIN, Leesha Delatie-Budair, says the revised Consumer Price Index, CPI, a basket used to calculate inflation, will consist of weaves, tech gadgets, and even toll fees.
She notes that the CPI basket’s updated every 10 years.
A new CPI series was introduced for April 2020.
The goods and services included in the new CPI basket and the weights associated with each item are based on the 2017 Household Expenditure Survey.
Ms Delatie- Budair was speaking at a quarterly media briefing online today.
Ms Delatie- Budair also says the consumption pattern of Jamaicans is shifting.
She notes that more Jamaican households are consuming healthier meals.
The next revision of the CPI basket’s expected in 2027.
Meanwhile, she says the July Labour Force survey’s expected in October.
This after the entity was forced to cancel its April Labour Force Survey due to the COVID 19 epidemic.
Leesha Delatie-Budair, Deputy Director General of STATIN.