Statistics Finland Revised the Consumer Price Index - MP3 Player a Newcomer to Commodity Basket

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Helsinki, 17 February, 2006 — Statistics Finland Revised the Consumer Price Index - MP3 Player a Newcomer to Commodity Basket

Statistics Finland revised the Consumer Price Index
Statistics Finland's Consumer Price Index has been revised. The weight structure of the index has been changed and the commodity basket updated with MP3 Player as a newcomer. The base year of the new Consumer Price Index is 2005.

In the revision around 22 per cent of the commodity basket was changed. New commodities in the Consumer Price Index include MP3 player, pre-baked bread and pastries, flavoured quark, woolly hat, and of restaurant food pasta, vegetarian dish, salad, dessert and special coffee. For example, semolina, beef blade, food processor, video recorder, video cassette and roll film were removed from the index. The index monitors the price development of a total of 497 commodities. Around 55,000 prices on commodities from approximately 3,500 outlets are collected monthly for the Consumer Price Index.

The weight structure of the Consumer Price Index 2005=100 is based on national accounts data concerning the year 2004, which have been updated to correspond to the value of private consumption in 2005. In 2005 the value of private consumption was EUR 70.4 billion. In the previous base year 2000 the corresponding consumption was EUR 56.5 billion.

More information
http://www.stat.fi/ConsumerPriceIndex