Consumer Price Index:

Abbreviated as CPI, it is a relative number that reflects changes in the price level of consumer goods and services purchased by households through changes in the price level of a representative set of consumer goods and services. It is an important indicator for macroeconomic analysis and decision-making.?

The specific steps for calculation are as follows:?

1, select the representative specification goods.

The current national methodological system stipulates the content of the survey up to 251 basic classifications, as well as the minimum number of representative specifications included under each basic classification. The representative specifications are determined by the provinces and municipalities themselves, and some specifications with local consumption characteristics can also be added appropriately.

2. Sampling of price survey points.

First of all types of commercial outlets sales from high to low queue, and then isometric sampling. To take into account a balance of large and small stores, a variety of economic types, a balance of comprehensive stores and specialized stores, a variety of commercial formats, reasonable layout and other factors, some corrections to the sampling results.

3. Calculate the weights of the consumer price index.

Weighing is an indicator that reflects the degree of influence of price changes of surveyed goods or services in the formation of the total index, which is calculated based on the proportion of total expenditures of households on various goods or services. The information on weights comes from the data on per capita consumer spending in the Urban Household Survey statistics. The weights for the basic classification and above categories are fixed for one year.?

4. Price survey and calculation of average price. The number of price surveys is determined according to the degree of relevance of goods or service items to people's lives and the frequency of price changes. Fresh vegetables, fresh fruits, meat, poultry and eggs, aquatic products and other prices, every 5 days of investigation; food, oil and grease, tobacco, alcohol and beverages, catering and other wearing goods prices every 10 days of investigation.?

Price information collected, but also to calculate the monthly average price. That is, each representative of the specifications of the goods all survey points of the time the price of a simple arithmetic average, to get the average monthly price. For example: the price of a certain type of clothing surveyed three times a month, there are six survey points, that is, the 18 point-in-time prices are added, and then divided by 18.?

5. Calculate the consumer price index.

After the monthly average price is calculated, the monthly price index can be calculated compared with different base periods. First, the calculation of the price index of individual goods or services, and then geometric average of individual indices to calculate the basic categorical price index, from the basic categorical index and then sequentially weighted to calculate the class index and the total index.

CPI is the Consumer Price Index, how is it calculated in Beijing? We do it in strict accordance with the requirements of the National Bureau of Statistics' Circulation and Consumer Price Statistics Survey Program. One of the consumer price index survey program, on behalf of the selection of specifications, price survey point sampling method, price survey methodology, the source of information and calculation of weights, the calculation of the price index are stipulated.