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ASABA – The World Bank, National Bureau of Statistics (NBS), in collaboration with Delta Government, have trained statisticians in the state on knowledge and latest trends in accurate compilation of the Consumer Price Index (CPI).
Reports that the workshop is to provide an accurate information for the state government, households and organisations to make informed decisions on matters relating to price levels and changes in prices.
The State Director of Statistics, Nkechi Maduemezia, on Monday in Asaba, said that the three-day workshop was also to consider the rebasing of the price reference period to bring it closer to the current realities.
Maduemezia, while welcoming the participants, said the workshop was specially organised to train the statisticians on global best practices and latest trends in CPI compilation.
According to her, the CPI produces estimates that reflect the current inflationary pressure and consumption pattern of people in the country.
She commended World Bank, NBS for the initiative, adding that 25 participants took part in the training.
One of the Resources Persons, Mrs Nkem Musa, emphasised that the essence of the workshop was to ensure harmonisation of concept of CPI.
She reiterated that the ”CPI is used notably to track inflation, compute inflation rate, making of socio-economic and monetary policies, tracking prices, adjustment of wages and salaries and getting needed information to formulate price stabilisation policies”.
The participants were also trained on the latest Classification of Individual Consumption by Purpose (COICOP), how to conduct the Household Expenditure Survey before coming up with the CPI basket and others.(NAN)
