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ﻢﻳﺣﺭﻠﺍ ﻥﻣﺣﺭﻠﺍ ﷲﺍ ﻢﺴﺑ. USERS PRODUCERS WORKSHOP PRESENTATION ON PRICE STATISTICS BY ABDUL AZEEM SAHITO DIRECTOR PRICE STATISTICS SECTION FBS, KARACHI. PRICE STATISTICS . PRICE STATISTICS INCLUDES COLLECTION OF RETAIL AND WHOLE SALE PRICES AND COMPUTATION OF FOLLOWING INDICES:-

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  1. ﻢﻳﺣﺭﻠﺍ ﻥﻣﺣﺭﻠﺍ ﷲﺍ ﻢﺴﺑ

  2. USERS PRODUCERS WORKSHOP PRESENTATION ON PRICE STATISTICS BY ABDUL AZEEM SAHITO DIRECTOR PRICE STATISTICS SECTIONFBS, KARACHI

  3. PRICE STATISTICS • PRICE STATISTICS INCLUDES COLLECTION OF RETAIL AND WHOLE SALE PRICES AND COMPUTATION OF FOLLOWING INDICES:- • 1. CONSUMER PRICE INDEX (C.P.I) • 2. WHOLESALE PRICE INDEX (W.P.I) • 3. SENSITIVE PRICE INDICATOR (S.P.I)

  4. Consumer Price Index • “ Consumer Price Index is the main measure of price changes at the retail level. It measures changes in the cost of buying a representative fixed basket of goods and services and is generally accepted as a measure of inflation in the country”.

  5. SENSITIVE PRICE INDICATOR (SPI) • Sensitive Price Indicator (SPI) is designed to assess price movement of essential consumer items at short intervals (on weekly basis ).

  6. WHOLE SALE PRICE INDEX (WPI) Wholesale price index ( WPI) is designed to measure the change of price in the primary and wholesale markets.

  7. Why Three Types of Indices? • CPI measures Inflation rate in the country • SPI is computed to assess the price movement of essential commodities at short interval of time to review the price situation in the country. • WPI measures the General Price level in the whole sale market.

  8. WHAT CPI MEASURES? • It measures Price changes of fixed market basket of goods and services of constant quality and quantity. • It tells how much cost of living has risen or fallen due to price changes irrespective of changes in consumer behaviour or quality of goods. • It does not reflect the cost of living or in house hold consumption expenditure as such but only the influence of price fluctuation on the trend.

  9. Selection of Markets/Outlets and Cities • Items are selected on the basis of Family Budget Survey • Markets are selected through retail and wholesale trade survey. • Outlets are selected on transaction value basis. • Cities are selected on population basis • Stratified sampling are used for selection of cities.

  10. Weights for CPI The results of Family Budget Survey provide the average percentage expenditure(Consumption pattern) of Households on each item/each commodity group and for each income group for the cities covered in CPI. These average percentage expenditures on item and commodity groups are called weights and are being used in computation of the CPI. Po x qo Wi = ------------- x 100  Po x qo Example: 1. Total Expenditure: Rs. 3000, 2. Expenditure on Wheat Flour:- Rs. 100 3. % of Expenditure on Wheat flour = (100/3000)*100 = 3.33 Weight of Wheat flour = 3.33%

  11. Commodity Groups Wise Items and Weights C.P.I (2000-01) • Commodity GroupWeightsItems 01. Food, Beverages & Tobacco 40.34 124 02. Apparel, Textile & Footwear 6.10 42 03. House Rent 23.43 01 04. Fuel & Lightening 7.29 15 05. House Hold, Furniture & Equipment etc. 3.29 44 06. Transport & Communication 7.32 42 07. Recreation & Entertainment 0.83 16 08. Education 3.45 24 09. Cleaning, Laundry & Personal Appearance 5.88 26 10. Medicines/Medicare 2.07 29 TOTAL 100.00 374

  12. COVERAGE OF CITIES AND MARKETS IN BASE YEAR FOR CPI 2000-2001

  13. COVERAGE OF CITIES AND MARKETS IN BASE YEAR FOR CPI 2000-2001

  14. INCOME GROUPS OF CPI • Up to Rs. 3000.00 • Rs. 3001.00 - 5000.00 • Rs. 5001.00 – 12000.00 • Above Rs. 12000.00

  15. Time table for Collection of Prices

  16. FORMULA USED FOR COMPUTATION OF CPI Laspeyre's formula as given below is being used for the computation of CPI.  (Pn/Po) x wi In = --------------------- x 100  wi Where In = CPI for the nth period Pn = price of an item in the in the nth period Po = price of an item in the base period wi = weight of the ith item in the base period = Po x qo /  Po x Qo  wi = Total weight of all items.

  17. ITEM UNIT BASE PRICE (Po) PRICE IN MAR, 06 (Pn) WEIGHT (Wi) Pn / Po Po / Pn x Wi Moong Pulse Kg 29.91 47.61 0.2230 1.5918 0.3550 Mash Pulse Kg 45.01 52.72 0.2017 1.1713 0.2363 Masoor Pulse Kg 36.23 44.03 0.2214 1.2153 0.2691 Gram Pulse Kg 28.99 31.50 0.4272 1.0866 0.4642 1.0733 1.3246 EXAMPLE FOR COMPUTATION OF CPI ( Pn/Po) x Wi Index = -------------------------------- x 100  Wi 1.3246 I = -------------------------- x 100 = 123.41 1.0733

  18. Limitation of CPI • Coverage is limited • Only covers Urban Centres • Prices may have different trend in rural & urban centres. • Rent is computed through construction input items index instead of rent survey. • It measures partially inflation not total consumer’s expenditure.

  19. WHOLE SALE PRICE INDEX (2000-01) • Coverage: Commodities: 106Items 425Price Quotations 1550 • CITIES:-18 Major Cities 1. Lahore 2. Faisalabad 3. Rawalpindi 4. Multan 5. Gujranwala 6. Sialkot 7. Sarghoda 8. Bahawalpur 9. Sahiwal 10. Karachi 11. Hyderabad 12. Sukkur 13. Nawabshah 14. Larkana 15. Peshawar 16. Quetta. 17. Mirpurkhas 18.Mingora • GROUPS & WEIGHTS:- Commodity Group Weight No. of Items No. of Commodities No. of Price Quotation FOOD 42.12 106 43 693 RAW MATERIALS 7.99 25 09 104 FUEL, LIGHTING 19.29 17 11 36 & LUBRICANTS MANUFACTURES 25.87 227 32 564 BUILDING MATERIALS 4.73 50 11 153 TOTAL 100.00 425 106 1550 • PERIODICITY OF PRICE COLLECTION: - 11th to 14th of Each Month (Monthly)

  20. WEIGHTS FOR WPI • The value of marketable surplus is being used for deriving weights of commodities/items included in WPI. The value of marketable surplus is the value of commodity available for sale in wholesale market. It is equal to the total value of production less consumption by the producers less exports (if any) plus imports. • Example:- Production – Self Consumption +Imports- Exports Wheat = (100 )-(20) + (10) – (10) =80 Value of Marketing Surplus= 80 x 1000 = 80000 Total Value of all the Items included in WPI =100,0000 % of Wheat in Total Value = (80000/1000000) x 100 = 8%

  21. Whole Sale Price Index (WPI)Historical Changes BASE YEAR No of Commodities 106 No of Price Quotations No. Of Cities Commodity groups 1959-60=100 64 201 22 Food Raw Materials Fuel,lighting & lubricants manufactures 1969-70=100 72 433 22 Food Raw Materials Fuel,lighting & lubricants manufactures 1975-76=100 87 625 22 Food Raw Materials Fuel,lighting & lubricants Manufactures Building Materials 1980-81=100 91 690 22 Food Raw Materials Fuel,lighting & lubricants Manufactures Building Materials 1990-91=100 96 1210 16 Food Raw Materials Fuel,lighting & lubricants Manufactures Building Materials 2000-01=100 1550 18 Food Raw Materials Fuel, Lighting& Lubricants Manufactures Building Materials

  22. SENSITIVE PRICE INDICATOR (2000-01=100) • Coverage: • Items: 53 • Markets: 53 • Price quotations: 10812 • CITIES:- 17 MAJOR CITIES 1. Lahore 2. Faisalabad 3. Rawalpindi 4. Islamabad 5. Multan 6. Gujranwala 7.Sialkot 8. Sargodha 9. Bahawalpur 10. Karachi 11. Hyderabad 12. Sukkur 13. Larkana 14. Peshawar 15. Bannu 16.Quetta 17. Khuzdar. • INCOME GROUP:-UPTO Rs. 3000.00 (Also for other groups) • CATEGORY OF EMPLOYEES:- ALL CATEGORIES COMBINED • PERIODICITY OF PRICE COLLECTION: - On Every Thursday (Weekly Basis)

  23. LIST OF ITEMS OF SPI

  24. Sensitive Price Indicator (SPI) Historical Changes BASE YEAR NO OF CITIES NO OF ITEMS NO OF MARKETS INCOME GROUP OCCUPATIONAL CATEGORIES 1969-70=100 12 28 22 upto Rs.300 Industrial employees Commercial employees Government employees 1975-76=100 12 38 22 Upto Rs.600 Industrial employees Commercial employees Government employees 1980-81=100 12 46 50 Upto Rs.1000 Industrial employees Commercial employees Government employees 1990-91=100 12 47 48 Upto Rs.1500 Industrial employees Commercial employees Government employees 2000-01=100 17 53 53 Upto Rs.3000 All categories combined including self employer and employeed.

  25. Dissemination of Price Data • WPI Intercity Prices of 18 cities.(Monthly/Yearly) • CPI Intercity Prices of 35 cities(Monthly/Yearly) • WPI indices for 5 commodity groups. • CPI indices for 10 commodity groups. • CPI indices, 4 income groups,10 commodity groups and 17 CPI cities. • Combined CPI indices for 10 commodity groups for 35 CPI cities. • Intercity prices of construction items. • SPI indices by income groups on monthly basis

  26. FUTURE PLANNING • Change of base of CPI, WPI & SPI from 2000-2001 to 2006-2007. • Rural areas will be covered in CPI. • Rent will be computed on rent survey basis. • COICOP classification will be used in CPI and CPC in WPI. • Enhance scope of indices in terms of cities/items and income groups.

  27. THANK YOU

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