Man, I finally get to understand what goes into the CPI. Have always wondered what’s core inflation and whether property prices are included under the term “accomodation cost”. Now I know that there’s a distinction made between the consumption and investment value of a house. Thank you, Aaron.
One thing though, that Household Expenditure Survey. It was done back-to-back in 2007 and 2008 and is only going to be conducted later this year. So what is this about the survey being expensive to conduct when it had been done consecutively in the past? The Americans do it every two years and the Brits, yearly. They are bigger countries too. Any housewife will know that the price of big prawns have gone up since; it went down in the last survey.
So how about something more regular by the Department of Stats? Say, every three years, if it is really so expensive for the Government to conduct a survey for this very important piece of information. The headline in ST says: Inflation gauge may be reviewed more often. Can we turn that “may” into a “will” please?