NSCB Resolution No. 6
Series of 1991
FURTHER AMENDMENTS ON THE REBASING OF PRICE INDICES
WHEREAS, SAB Resolution No. 4 of 1985 mandates the rebasing of price indices to 1985 and every five years thereafter;
WHEREAS, the general wholesale price index (WPI), general retail price index (RPI) and retail price index for selected construction materials are still based on 1978 prices;
WHEREAS, the data needed to rebase the above price indices to 1985 are available;
WHEREAS, the synchronized rebasing of all price indices to 1990 is not feasible since the statistical activities leading to the generation of required data were not conducted in 1990;
WHEREAS, there is a desire to set in advance a common base year for all price indices so as to allow for an effective programming of resources needed in the implementation of various data gathering activities;
NOW THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, that the following guidelines on the rebasing of price indices be adopted:
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The remaining price indices which are still based on 1978 shall be rebased to 1985 with the exception of the consumer price index (CPI) which is rebased to 1988 as per NSCB Resolution No. 1 of 1991;
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The next synchronized rebasing shall have 1994 as the base year which coincides with the conduct of the 1994 Family Income and Expenditures Survey (FIES) and the 1993 Census of Establishments (CE);
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The NSO shall conduct the Commodity and Outlet Survey (COS) in 1994 to generate the needed information for rebasing the CPI; and
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The NSCB Technical Staff, together with NSO, shall generate the Input-Output (I-O) Table with minimum time lag using the results of the most recent CE.
Approved this 31st day of July 1991.