Singapore CPI Weights Education

The Index of Consumer Prices is an economic indicator that measures the change over time of the prices of consumer goods and services acquired by households.This involves weighting together aggregated prices for different categories of goods and services so that each takes its appropriate share within household budgets. The weights are based on expenditure of households. All the weights used in compiling the measures of consumer price inflation are updated annually to coincide with the general review of the representative items in the basket. The weights are based on the latest available calendar year’s household final consumption expenditure data. Each expenditure class is given an weight in in percents so that the sum of the class weights equals 100.