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A new calculation system for China’s consumer and housing prices reflects the country’s changing economic landscape in a scientific way
A series of adjustments have been madein the new consumer price index(CPI) weighing system, including analteration to the base year, weighingthe CPI basket, expansion of sources of datacollection and adjustments in representativeitems, according to the National Bureau ofStatistics (NBS).
The new method is meant to better respondto China’s economic development andchanges in consumption by urban and ruralresidents, said the NBS. The CPI reweighingwill also make the index more scientific andaccurate.
A series of adjustments have been madein the new consumer price index(CPI) weighing system, including analteration to the base year, weighingthe CPI basket, expansion of sources of datacollection and adjustments in representativeitems, according to the National Bureau ofStatistics (NBS).
The new method is meant to better respondto China’s economic development andchanges in consumption by urban and ruralresidents, said the NBS. The CPI reweighingwill also make the index more scientific andaccurate.