THE Philippine Statistics Authority (PSA) will change the base year used in calculating economic growth, inflation and other economic indicators to 2023 from the current 2018 beginning January 2026.
THE Philippine Statistics Authority will change the base year used in calculating economic growth, inflation and other economic indicators to 2023 from the current 2018 beginning January 2026.National Statistician and PSA Undersecretary Dennis Mapa said that the agency had begun work on the rebasing, which will align inflation and gross domestic product measurements to recent economic developments.
The process also aligns the base year with that used for gross domestic product and other indices, such as the producer price index for agriculture and manufacturing, and the volume, value and value of net sales indices for manufacturing.The rebasing follows PSA Board Resolution 1 Series 2017-146, which mandates the synchronization of price indices to a new base year every six years beginning 2006.'For example, food weight currently stands at 35 percent.
To Change Base Year To 2023 In 2026
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