From January 2022, Rosstat will make changes to the calculation of weekly inflation, this is expected to help bring the result of accumulated weekly estimates closer to the actual price growth for the month. There will also be a change in the price recording procedure for calculating the weekly estimate and the monthly consumer price index.
“From January 2022, changes are being made to the calculation of the weekly consumer price index (CPI). It will be carried out according to the same algorithm as the monthly CPI – according to the Laspeyres formula … Changing the formula for calculating the estimate of the weekly CPI will bring the result of the accumulated weekly estimates closer to the actual CPI for the month, ”the agency’s website says.
Changes will be made to the range of consumer goods and services. In particular, Rosstat will unite products with similar consumer properties: for example, fat and low-fat cottage cheese are combined into a single item “curd”, and imported and domestic beer and cigarettes are simply “beer” and “cigarettes”.
New services will also be added to the index, for example, a trip to Egypt on vacation and the cost of a monthly subscription to a fitness center.
In addition, the weekly consumer price registration will be rescheduled from Monday to Friday. “This will allow us to take into account prices on food markets that are not working on Monday (36% of all markets monitored by Rosstat), as well as weekend fairs starting on Friday. Monthly registration of consumer prices will be carried out in the last 5 days of the month (earlier it started on the 20th and ended on the 25th of the reporting month), ”the article says.
The day before, the head of the Central Bank Elvira Nabiullina said that at the end of 2021, inflation in Russia will slightly exceed 8%. She noted that this is an average value for many groups of goods, and prices for some groups, in particular for food, increased more than this indicator. Against the backdrop of rising prices, the Board of Directors of the Bank of Russia on December 17 raised the key rate by 100 basis points at once, to 8.5% per annum. This increase in the key rate was the seventh in a row in 2021 and the maximum since September-October 2017.
More about the policy of the Central Bank – in the material “Kommersant” “The Central Bank measured seven times.”
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