Thursday , January 21 2021

INE updates its body to measure CPI

Statistics Finland (INE) announced that it will update from 8 February the base year with which the CPI is calculated, in addition to updating the basket of goods and services with which inflation is measured.

In this sense, the Community exited from the basket three products: men's suits, land and fertilizers, and legal advisory services. With new trends in mind, it added an online subscription service that refers to costs associated with streaming content or online, such as Netflix or Spotify.

In addition, INE reported that 29 products were combined with 13 products.

"This does not mean that the merged products would stop measuring, but that they will be kept, but as part of the resulting product," he said.

Seven of the twelve titles retained the same groups, categories, subcategories and products: food and non-alcoholic beverages (76 products), alcoholic beverages and tobacco (8 products), housing and basic services (16 products), health (22 products), transport (24 products), communication (6 products) and training (11 products).

On the other hand, in the clothing and footwear division, the products fell from 35 to 28. One product was removed (men's suits or both) and the other 11 were combined into five, for example, baby outerwear products for babies' underwear and underwear became nurseries.

In household dispensers and maintenance, the number of products fell from 41 to 36 as 10 products were combined to 5. For example, lamps and decorative items became decorative items. In the recreation and culture department, products were reduced from 38 to 37. Added 1 new online subscription service; soil and fertilizer were removed, and 2 products were combined 1: music and digital cinema and digital storage were converted to digital storage.

In the restaurant and hotel division, the number of products fell from 11 to 7, given that 6 of the previous products were merged 2. For example, empanadas take out, take out the potatoes and take the dishes out of the food. To 32 because legal advisory services were removed.

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