MONDAY, APRIL 1, 1974
OF TOUCH WITH REALITY, THERE WAS A GROWING NEED TO UPDATE IT SO
AS TO KEEP ABREAST WITH PRESENT-DAY CONDITIONS.
THE EXISTING CONSUMER PRICE INDEX, WHICH COMPRISES THE
GENERAL CONSUMER PRICE INDEX AND THE MODIFIED CONSUMER PRICE INDEX,
IS BASED ON A HOUSEHOLD EXPENDITURE SURVEY CONDUCTED BETWEEN
SEPTEMBER 1963 AND AUGUST 1964.
+SOME CHANGES IN THE POPULATION'S CONSUMPTION AND LIVING
PATTERNS HAVE BEEN MADE DURING THE PAST DECADE AND THESE CALL FOR
A REVISION OF THE INDEX, + THE SPOKESMAN NOTED.
!
BY WAY OF EXAMPLE, HE OBSERVED THAT HOUSEHOLDS ARE NOW
SPENDING LARGER PROPORTIONS OF THEIR TOTAL EXPENDITURE ON FOOD
AND TRANSPORT, AND SMALLER PROPORTIONS ON SERVICES, ALCOHOLIC
DRINKS AND TOBACCO.
NONETHELESS, THE SPOKESMAN STRESSED THAT OVER THE PAST YEARS
MINOR ADJUSTMENTS TO THE COVERAGE OF THE CONSUMER PRICE INDEX HAD
BEEN MADE FROM TIME TO TIME TO BRING IT MORE IN ACCORD WITH THE
CHANGING SITUATION.
THE CURRENT HOUSEHOLD SURVEY, WHICH IS IN AN ADVANCED STAGE,
INVOLVES SOME 3,000 HOUSEHOLDS WITHIN THE MONTHLY EXPENDITURE
BRACKET OF $400 AND $3,000.
RANGE.
THE 1963/64 SURVEY COVERED HOUSEHOLDS IN THE $100-$2,000,
+
ANOTHER NOTABLE FEATURE OF THE CURRENT SURVEY IS THAT IT
TAKES INTO ACCOUNT THE CHANGES IN THE GEOGRAPHICAL DISTRIBUTION
OF HOUSEHOLDS SINCE THE LAST SURVEY.
/+A LANGS
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