Updated Price Index Weight Index Diagram

[UPDATE OF 2018 PRICE INDEX WEIGHT DIAGRAM DIAGRAM]

Located at the BPS Hall of NTT Province, yesterday, January 30, 2020, the Socialization of the Weighing Diagram of Consumer Price Index and Farmer Exchange Rate of the Basic Year 2018 was held, which was attended by relevant agencies and media crews. In his remarks, Darwis Sitorus, Head of the NTT Province BPS said that one of the strategic data produced by BPS NTT was the Consumer Price Index (CPI) and Farmer Exchange Rate (NTP). Inflation figures released at the beginning of each month are calculated based on Changes in Consumer Price Index (CPI). .
The times and consumption patterns of the people demanded that BPS continue to innovate and adjust the situation. Therefore, in 2018 the 2018 Living Cost Survey (SBH) was carried out. The results of the survey then became the basis for calculating the CPI starting in 2020. That means, in 2020 the entire CPI throughout Indonesia had used the 2018 base year = 100.
At the event the dervish emphasized, "The update of the Basic Year was carried out due to several reasons, namely changes in community consumption patterns, updating of commodity packages, updating of the weigh diagram, changes in the structure of the agricultural sector, and refinement of methodologies according to international standards."
.
For NTP, in the framework of changing the base year the Farmers Exchange Rate Weigh Diagram Improvement Survey has been conducted in 2017. The base year must be revised periodically to reflect structural changes that occur in an economy, especially in production patterns, production cost patterns, and household consumption patterns agriculture. It is hoped that with this new base year, the price index produced by BPS will better reflect the current condition of the people of NTT.

____
More about NTT BPS:
📱 Facebook: BPS NTT Province
📸 Instagram: bps.ntt
🖥 Web: ntt.bps.go.id
____