Consumer Price and Household Income and Expenditure Survey

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Title	What is the reason for periodic revision of CPI?
Date	2015-12-15
The CPI is fixed to representative products and their weights. As time goes by, household consumption patterns change, new products emerge or existing products disappear, and relative expenditures between products vary. As more time passes from the base year, the CPI faces limitations in accurately reflecting the reality. Hence, to ensure the CPI effectively measures the reality, we need to adjust the products and weights.