Revision by Türkiye allows users to read, follow price movements more accurately, says head of Turkish Statistical Institute
The Turkish Statistical Institute (TurkStat) adapted to the transparency levels of EU countries and advanced countries’ statistical offices in price statistics by changing consumer prices index (CPI) tables, the deputy head of the institute said.
Recalling that TurkStat made changes to its detailed tables in May, Ibrahim Demir said in a recent statement to Anadolu Agency that the revisions allowed users to read and follow price movements in the market more accurately.
With the move, TurkStat aimed to adapt to 33 EU and advanced countries’ disclosures on price, weight, and index, he detailed.
He underlined that half of these 33 countries do not disclose price information and that around 27% of them release monthly average prices for only select items.
These items are generally related to the daily consumption (food), he stressed.
In the Czech Republic, which publishes prices for selected items on a weekly basis,the prices shared are based on barcode figures, said Demir.
Seventeen of these 33 countries do not disclose price information, while nine share the monthly average of select items, one country releases weekly averages of select items, three share only fuel prices, and three announce the annual averages of select items.
He also touched on the weights of statistics, saying 45% of the countries disclose data at the level of COICOP 5, while 36% do so at COICOP 4.
Data for self-classified countries like Australia, the US, and Canada are matched to the appropriate COICOP level, he noted.
Austria declares its weight at the level of COICOP 10, while, according to their publishing levels, 15 countries adhere to COICOP 5, 12 to COICOP 4, three to COICOP 2, and one each to COICOP 10, COICOP 6, and COICOP 8.
COICOP stands for Classification of Individual Consumption by Purpose.
In terms of indices announced, Demir said, the share of countries disclosing index information at the fourth and fifth COICOP levels increases.
Further, countries usually publish their CPI news bulletins 10 to 15 days after the end of the reference month, while some share forecast information in its final days, he explained.
He also emphasized that Türkiye, Germany, France, Italy, and Spain all publish item basket and item index values, while none of them publish item prices.