Stats SA on Tuesday announced changes in the calculation of the Consumer Price Index (CPI) and the Producer Price Index (PPI).
In 2013, the weights of the CPI would be updated with fresh information from the household income and expenditure survey (IES).
At the same time, the two indices would be rebased to 2012.
“In addition, a number of methodological improvements will be implemented. The first new publication will be for the January 2013 reference month and will be published in February 2013.”
Stats SA was analysing the IES data and would provide information on the structure of the CPI weights in either September or October 2012.
The current PPI would be split into a set of five separate PPIs. These would be agriculture, mining, electricity, water, intermediate manufacturing and final manufacturing.
“The current import and export indices are to be replaced by import and export unit value indices, which will be derived from administrative customs data.”
These changes would bring the South African PPI in line with international standards, Stats SA said.
The January 2013 PPI, to be published in February 2013, would be the first release of the new-look indices. - Sapa