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Rebased CPI weights, calculation and aggregation method...

Writer
Wang Xiangpeng
Date
2016-12-27
Views
695
File
Hi KOSIS officer,

1) Could you kindly provide the weights, calculation and aggregation methods for the newly rebased CPI index for research purpose please? 

2) Regarding the future maintenance of the CPI index, will the basket be adjusted on yearly basis, and will the  effect be retrospective?

Thanks,
Xiangpeng
Statistics Korea 2017-01-03
Attached file :
Dear Xiangpeng,
Thank you for using the KOSIS website.


1.1. Weights: You may find the weights for the newly based CPI by using additional function on the KOSIS website.

1.2. Calculation and aggregation methods for the CPI: The index is computed by using the Laspeyres' Formula, of which base prices, weight and the index reference year are 2015. (attached file)
 
* L:Laspeyres' index,  P:Price,  Q:Quantity,  W:Weights, t:Time,  I:Items

2.1. Adjustment of the basket: The CPI items and base years are revised every 5 years (years ending in 0 or 5). The weights for the CPI are revised every 2 or 3 years (years ending in 0, 2, 5 or 7).

2.2. Retrospective effect: The past indices are retrospectively changed after rebasing every 5 years.


Best regards,
Statistics Korea
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