CPI Inflation base year changed to 2015-16

The Mint PK

Comprehensive source of Business, Lifestyle and Technology news from Pakistan

Economy

CPI Inflation base year changed to 2015-16

The Economic Coordination Committee (ECC) of the government has allowed Pakistan Bureau of Statistics (PBS) to change the base year of price statistics to 2015-16 from the old base year of 2007-08 for comparative purposes.

In this regard, ECC has previously formed a Technical Committee, which comprised of 30 participants from both the Public and Private Sectors to discuss the technical aspects of the re-basing mechanism.

The technical committee recommended a change in base year from 2007-8 to 2015-16 along with the establishment of Rural Price Index, in addition, to already existing urban and National Price Index.

The re-basing of Year will also be accompanied with the following changes:

  1. Introduction of rural Index
  2. Revision of population weights based on recent population census
  3. Price indices calculation to be based on weighted geometric mean
  4. Establishment of consumption quintiles for income quintiles
  5. A new consumer weighted approach for computing gas prices in combined income group
  6. Impact of GST and fuel price adjustments in computing electricity bills using the consumer weighted approach

admin Administrator
Sorry! The Author has not filled his profile.
×
admin Administrator
Sorry! The Author has not filled his profile.

Comment here