Statistics South Africa has announced the changes to the Consumer Price Index (CPI) weights and basket of goods and services.
International standards require the CPI basket to be updated at least every five years to ensure that the inflation measurement reflects changes in consumers’ spending patterns.
The CPI statistical release for January 2022 will be released on 16th February 2022 using an updated basket of goods and services and corresponding weights.
Chief Director for Price Statistics SA Patrick Kelly says there are 14 new products entering the CPI basket while two items will be excluded from the basket.
“So, the items that are coming in are dairy fruit juice blends, which we have had previous in the basket. Cappuccino and coffee sachets, samp which has also been previously in the basket, purée baby food and jam. We’ve combined two types of maize meals. So, the last number of years we’ve had separate indices for super maize meal and special maize meal. So special maize meal is not that available typically purchased in the KZN area. There are quite a lot of operational challenges getting consistent pricing for that.”
In the Twitter thread below, Stats SA gives a breadown of the goods added:
[THREAD] What’s in and what’s out! #StatsSA has updated the #CPI inflation basket, providing insight into how household spending habits have shifted since 2016.
Read more here: https://t.co/xOeJ75HF0A#StatsSA #inflation pic.twitter.com/Ny0FrgO9Ru
— Stats SA (@StatsSA) January 31, 2022
Food and non-alcoholic beverages
Cappuccino sachets, samp and jam are a few of the new food and non-alcoholic drink items to enter the #CPI basket.
Read more here: https://t.co/xOeJ75HF0A#StatsSA pic.twitter.com/xlDRimc4HS
— Stats SA (@StatsSA) January 31, 2022
Alcoholic beverages
Gin is the only new inclusion in the alcoholic beverages category, reflecting its growing popularity.
Read more on the updated #CPI basket here: https://t.co/xOeJ75HF0A#StatsSA pic.twitter.com/PTfazZ6gUE
— Stats SA (@StatsSA) January 31, 2022
Recreation and culture
In the recreation and culture category, DVD players and satellite dishes are no longer in the #CPI basket.
Read more here: https://t.co/xOeJ75HF0A#StatsSA pic.twitter.com/2WAbbv20qz
— Stats SA (@StatsSA) January 31, 2022
Miscallaneous – personal care
Wipes, razors and make up (foundation) are new personal care items that have been included in the #CPI basket.
Read more here: https://t.co/xOeJ75HF0A#StatsSA pic.twitter.com/x1eKh0K5Op
— Stats SA (@StatsSA) January 31, 2022
High level change in weights
#StatsSA has adjusted the weights for product categories in the updated #CPI basket.
Read more here: https://t.co/qsP2K3xKrG pic.twitter.com/QRC7xgefwW
— Stats SA (@StatsSA) January 31, 2022
