INE upgrades basket of goods and services and adds Netflix and Spotify


Netflix and Spotify will be some of the elements that will be included in the basket of updated goods and services, which allows to measure the Consumer Price Index (CPI), as announced by National Institute of Statistics (INE)

"This change in the base year meant updating CPI's basket of goods and services – using the VIII Family Budget Survey (EPF) as the main source – to reflect the way in which consumption habits were modified. The change also made it possible to introduce technical and operational improvements to build a more accurate and representative index of the economy's price behavior, "said INE, according to BĂ­obiochile.

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On the other hand, items such as costumes, land, fertilizers or legal services will no longer be part of the basket.

"The selected products correspond to the most consumed products in at least four of the five quintiles of the population, that is, in most of the socioeconomic strata, "they explained.

These changes will be reflected as of February 8, 2019, when the January CPI will be delivered.

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