PRICE INDEX REVISION

Press, Volume CXI, Issue 32637, 19 June 1971, Page 23

PRICE INDEX REVISION

Report due in September

(N.Z. Press Association)

WELLINGTON, June 17.

The Minister of Finance (Mr Muldoon) tonight announced the terms of reference for the Consumers Price Index Revision Advisory Committee. The committee, to be chaired by the Government Statistician (Mr J. P. Lewin) is to investigate and report by September 1, 1971, with recommendations upon:

“(1) The general nature, purpose and form of the proposed revised consumers' price index; (2) The data and their sources to be considered in the course of construction of the index;

(3) The general principles which should be taken into account in the course of construction of the index including those in respect of: (a) The range of goods and services to be covered; (b) the selection of goods and services to be priced; (c) the grouping and sub-grouping of index items and the weighting of such groups and subgroups; (d) the number and choice of market centres at which index items are priced and the geographical areas for which separate indexes should be published; (e) the frequency of preparation and publication of the index. (4) Methods of price collection and the powers of the

Government Statistician in relation thereto.

(5) The base period and date of first publication of the revised index; and (6) The linkage of the index with the present consumers’ price index."