15/12/2010 09:48
The Price Index Technical Committee decided on Monday to add 181 new goods and services to the Consumer Price Index goods, pushing the number of goods and services of the new market basket to 850.
Speaking to StockWatch, Cystat Manager, Giorgos Georgiou said that this decision was the result of a survey that lasted one year starting from November 2008 in order to cover all seasonal fluctuations in the markets of the citizens.
“The survey showed a change in the burden of the new basket, while it was ascertained that there are goods and services that are consumed and are deemed necessary”, he said.
Mr. Georgiou said that no final decision has been taken yet on the goods and services that will be added but they talk about “a big basket”. The addition will held in January 2011.
The approach of the trade unions participating in the Committee was similar.
“The addition will make the CPI more representative”, Head of PEO Office of European Issues, Nicos Gregoriou said.
Referring to the impact that this expansion will have on COLA, Mr. Gregoriou said that this increase/decrease does not affect directly COLA.
“I don’t believe that COLA will be affected much. It will probably remain the same but if it does not it will be to the benefit of the citizens”, he concluded.
Speaking to StockWatch, Cystat Manager, Giorgos Georgiou said that this decision was the result of a survey that lasted one year starting from November 2008 in order to cover all seasonal fluctuations in the markets of the citizens.
“The survey showed a change in the burden of the new basket, while it was ascertained that there are goods and services that are consumed and are deemed necessary”, he said.
Mr. Georgiou said that no final decision has been taken yet on the goods and services that will be added but they talk about “a big basket”. The addition will held in January 2011.
The approach of the trade unions participating in the Committee was similar.
“The addition will make the CPI more representative”, Head of PEO Office of European Issues, Nicos Gregoriou said.
Referring to the impact that this expansion will have on COLA, Mr. Gregoriou said that this increase/decrease does not affect directly COLA.
“I don’t believe that COLA will be affected much. It will probably remain the same but if it does not it will be to the benefit of the citizens”, he concluded.
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