TurkStat has posted an announcement on its website about transitioning to a more detailed index publication (COICOP 5) rather than a per-item price publication in the Consumer Price Index (CPI) basket of items.
In the communiqué, it was mentioned that, as in all statistics published by TURKSTAT within the scope of the Official Statistics Program, the CPI was calculated and published in accordance with international norms and standards, taking into account all the Principles of Implementation of Statistics European. .
In the statement, which states that all details of the CPI data compilation, processing and distribution processes are published on the website within the framework of the principles of “accessibility and openness”, also defined in the TURKSTAT Quality Assurance Framework, “ Process of producing statistics, constantly evolving and changing social, economic, technological and develops and improves day by day based on seasonal conditions and growing needs and expectations in this direction. expression was used.
In the communiqué, it was mentioned that the national statistical institutes closely followed all these developments, as well as examples of good practices and reflected them in their work so that all statistics produced in accordance with international standards could respond to current conditions, market and user needs. it has been reported that some arrangements have been made regarding market content, which will allow users to read and track price movements in the market more accurately.
In the statement, it was stated that it had been decided not to update the table on the average prices of items released monthly, as it causes misunderstandings and misleading assessments in the public, as of the publication date of the May 2022 CPI results, as follows:
“Instead, the scope of the Index Results by Expense Group table was expanded and index results began to be published for 144 top titles, which include more detailed index changes and correspond to COICOP level 5 rather than Rating Individual Consumption by Purpose-COICOP 4. As of 2022. Under the IPC, approximately 560,392 prices are compiled every month for 409 items and 904 types of items. Although there is almost no country that publishes all average prices in All over the world, the price compilation process is done at “item type” level and is published at “article” level in our country. This is the main reason why the table is misunderstood by the public. As a result, the price of the item presented to the public since the price of gasoline vehicles reflected the average price of all gasoline vehicles tracked. This situation is valid for all non-homogeneous items. Another example that can be given to this respect are the prices of fresh vegetables and fruits. Prices for fresh fruit and vegetables are compiled four times a month, once a week, from products with high price volatility in transit. The average of the prices of fresh fruits and vegetables, compiled by our Agency four times (every week) was published in the price list for those items. However, due to the public’s focus on last week’s prices (the most up-to-date), prices of fresh vegetables and fruits based on the four-week average announced by our Agency were often the subject of discussion like other products. While the four-week average may be higher than last week’s price in fresh fruit and vegetables, in early-season months, higher average prices may occur at the end of the season compared to last week’s prices. While there was no public criticism when the average price was announced per item, higher than last week’s prices, on the contrary, our Institution was exposed to unfair criticism.”
Country price publication status
In the announcement, it is stated that most national statistical institutes around the world do not publish prices at article level due to the inhomogeneous nature of the products and the fact that monthly average prices may differ from market prices on the day Newsletter Publishing When you examine the websites of 33 National Statistical Offices, including EFTA countries, the US and Canada, it turns out that no country publishes all prices at the item level.
In this context, in the announcement, it was highlighted that 17 of the relevant countries do not share price information at all, 9 of them publish monthly average prices of selected materials, 4 of them publish annual average prices of selected materials, and 3 of them publish only prices monthly energy, the following information was given:
“When we look at the index levels announced by the relevant countries, we see that the sharing of index information at COICOP 4th and 5th tiers has intensified. On June 3, 2022 Turkstat moved from COICOP tier 4 to the more detailed COICOP tier 5, as well as the monthly price variation of selected products. It is observed, based on public data, that Turkey is at the forefront of transparent countries among 33 countries, including EU member and candidate countries, EFTA countries, USA and Canada.
Inform the public about gasoline and diesel prices
In the communiqué, it was also mentioned that gasoline and diesel prices were compiled from fuel sales points by TUIK’s regional directorates during the monthly compilation periods of product prices, and the consumption values of the relevant products were obtained. administrative records of daily pump sales amounts received from the Energy Market Regulatory Authority (EMRA).
In the statement, it was highlighted that daily demands for these products increased significantly before higher prices were reflected, mainly due to daily fluctuations in gasoline and diesel prices, the following assessments were included:
“Our institution calculates the average monthly selling price of the relevant products by weighting the daily consumption values with the daily prices. The difference in the “weighted average prices” obtained by including in the calculations the daily quantity of consumption of the related products, from the surface prices obtained by the simple average method over only the “average daily prices”, is due to the difference in methodologies used . The debates that arose as a result of trying to achieve the same item pricing results, the results of TURKSTAT EU member and candidate countries, EFTA countries, the USA and Canada, as well as It is an important indicator of the correctness of the decision not to publish prices for products other than articles.