Base year to change to 1395 (2016)

Base year to change to 1395 (2016)
Nowshahr (CBI PR dept) -The director general of the CBI Economic Statistics department released the news about the publication of the indices of price of consumer goods and services in accordance to the new base year which is 2016.

Alireza Moghtadaee released the news in the inauguration ceremony of the 39th training seminar on economic statistics held in Noshahr. He numerated the measures taken by his department concerning modern systems of data collection and processing. "The central bank managed to develop the comprehensive system of economic statistics last year. Studies were conducted with the cooperation of Iran Informatics Services Company aiming at effective publication of information through business intelligence capabilities. Moreover, the project of offline data collection during the analysis of household budget as well as the pilot project of offline data collection for employment was finalized. The inflation calculation tool was also introduced in central bank website" he added.
He referred to the measures taken regarding the statistics for the index of prices of consumer goods and services. "Various reports are being prepared by the CBI regarding the price index for consumer goods and services (i.e. inflation). Important bodies such as Market Regulation and the Committee for Price Stabilisation use these statistics. The index will be published in accordance with the new base year this July", he said.
"CBI prepares reports on producer price index in the areas of industry, services and agriculture", he continued, "It was decided that construction and intermediation to be added to the list. This phase is scheduled for 2018".
Moghtadaee mentioned that the central bank and its economic statistics department are the sole producers of statistics in the field of construction in Iran. "Last year we conducted two parallel studies one in accordance with 2011 and 2016 as base years. The results will be published in near future" he stated.
"The history of economic statistics goes back as far as the Second World War. Economic indices at aggregate and data accumulation levels as well as indices such as inflation and growth are mainly used for comparison of economic performances", he said, " The new attitude prompts the policy makers to pay more attention to small data. In other words, the economic policy-maker may use the analysis of small data as a very important instrument to materilaise their own goals", he concluded.
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