Weights of the consumer basket will be updated

21 January 2016

Consumer price indices will be calculated with updated weights. First results of the calculation based on the new weighting schemes will be published by the CZSO on 12 February, namely for the month of January 2016. The weights are derived from the household expenditures in 2014.

It regards a planned revision in price statistics. The weights are updated every two years. Such revisions are made regularly.

At all levels of the consumer basket, the newly calculated indices will be chained to the original base, which was the average of 2005 = 100. Thus a continuation of the existing time series of indices from which indices to other bases will be derived (previous month = 100, corresponding period of last year = 100, and the index of rolling average, i.e. the average of index numbers over the last 12 months to the average for the previous 12 months) will be ensured.

There are no other methodological changes regarding the announced update.

Users were already informed about the weights update under preparation in the News Release published on 12 January 2016.

Contact:
Petra Báčová
CZSO spokeswoman
Phone No.: (+420) 274 052 017
Mobile phone No.: (+420) 778 727 232
e-mail: petra.bacova@czso.cz