Six items in Turkey are removed from the inflation basket

Published 2022년 2월 4일

Tridge summary

The Turkish Statistical Institute (TUIK) has updated the Consumer Price Index (CPI) consumption basket and weights due to the impact of the COVID-19 pandemic. Starting from 2021, the institute will use both the Household Budget Survey (HBA) and National Accounts Household Final Consumption Expenditure data. The CPI basket and weights remain unchanged throughout the year, with products and weights adjusting every year. The 2022 CPI basket saw the removal of several items and changes in weights for various goods and services, including a decrease in the weight of electricity charges. The institute will also compile prices from the internet for certain goods starting in 2022.

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Original content

With the aim of measuring inflation, the Consumer Price Index (CPI) and the Turkish Statistical Institute (TUIK), which measures the change in the general level of prices of goods and services that are the subject of consumption expenditures over time, settlements and workplaces for which prices are compiled every year, products in the index basket and their weights. Updates product descriptions with Substance and weight updates are announced in January of each year and remain constant throughout the year. HOW WAS THE CPI CONSUMPTION BASKET AND WEIGHTS UPDATED? The following information was shared in the statement regarding the update: “The COVID-19 epidemic, which emerged in 2020, had a significant impact on household consumption expenditures. While some of the changes in consumption habits due to the epidemic are temporary, some are expected to continue for a long time. The European Union Statistical Office (EuroStat) published a methodological guide1 in December 2020 in order ...

Source: Haber7