
honestly I was trying to read the FACTS,

, but for some reason couldn't get past some of the inclusions and exclusions, primarily as they aren't fully listed and may well be things that we all buy, I may be wrong...
Now I see that the CPI isn't used for mickey mouse reasons
"It is used as a measure of inflation, an indicator for monitoring economic and monetary policy, an indicator of the effect of price change on the purchasing power of households' incomes, as a means to adjust benefits, allowances and incomes, and as a price deflator."
Pretty important stuff eh...
"The population coverage of the CPI relates to the expenditure of private, New Zealand-resident households living in permanent dwellings. The reference population covers approximately 98 percent of the usually-resident population.
There are no exclusions based on income source or geographic location."
"The HES excludes residents of temporary dwellings and households in very remote parts of the North and South Islands and on offshore islands, including Great Barrier, Kawau, Stewart and the Chatham Islands"
hang on, didn't it just say "There are no exclusions based on income source or geographic location", or is that the 2% they're talking about... they don't say.
"Some types of expenditure are also excluded because their price movements cannot be satisfactorily measured nor can they be related to the price movements of items which are price-surveyed. These include works of arts, illicit drugs, pets and other livestock, gambling, most legal services etc."
but but but, it just said "There are no exclusions based on income source or geographic location"...
There's no definitive exclusions list. And Most legal services have been removed. Why only most? Doesn't say... perhaps it'd send the CPI through the roof...
The last Recommendation almost finished me off "At this point in time, given the balance of users' requirements and Statistics New Zealand's resource requirements, the production of a monthly CPI is a relatively low priority."
Hang on, the purpose of the CPI is "... used as a measure of inflation, an indicator for monitoring economic and monetary policy, an indicator of the effect of price change on the purchasing power of households' incomes, as a means to adjust benefits, allowances and incomes, and as a price deflator." but it has a low priority

...
Oooook, so after reading those facts... Give the Teachers a pay rise and stop trying to use statistics as FACTS (because they aren't) in order to not pay them...
Bookmarks