KNBS to release monthly inflation data tomorrow
The Kenya National Bureau of Statistics (KNBS) has the rebased Consumer Price Index (CPI), Producer Price Index (PPI) and four quarterly labour reports it releases annually.
It is expected that the monthly inflation data to be released tomorrow will reflect the newly rebased CPI.
The three rebased products are a key source of statistical data in the country and the move is expected to further enhance the quality of statistics, including the measurement of inflation, upon which policymakers base their decisions.
The new system introduces new CPI baskets during measurements and will use computer aided personal interview has been adopted for data collection.
“This has positive attributes which include; geo-referencing, image capture/storage, background computations and timely data submissions,” said KNBS in a statement.
KNBS says these revisions are guided by internationally accepted best practices as well as the Common Market for East and Southern Africa (COMESA) and the East African Community Harmonized Consumer Price Index regulations.
The CPI will have a new basket of 330 items, compared to the previous basket of 234 items. Obsolete items in the old basket have been dropped, while new and more relevant items have been included. The weights in the rebased CPI have also been updated and the Expenditure Groups have been recalculated, based on the 2015/16 Kenya Integrated Household Budget Survey. The review of the PPI was to reflect changed production patterns and a new industrial structure.
The Quarterly Labour Force Survey will more accurately measure key labour statistics, including labour force participation, employment and labour utilisation.