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CPI `shopping list' updte scheduled

updated for the first time in 11 years.The shopping basket is a random selection of goods and services used to track price changes for average households.

updated for the first time in 11 years.

The shopping basket is a random selection of goods and services used to track price changes for average households.

Inflation which has dropped heavily over the past two years and is now just under three percent, is used to help determine wage and salary increases, rents and in Government economic policy.

Interviewers, trainers and supervisors are now being sought by the Government's Statistics Department for the 1993 Household Expenditure Survey to be held in May and June.

An official of the department said, today: "The key objective of the survey will be to gather information on expenditure from a random sample of 1,500 households. This information will be used to re-weight the Consumer Price Index.

"The CPI measures the rate of change in prices of a basket of goods and services purchased by the majority of Bermuda's households.

"This shopping basket consists of a number of items such as food, clothing, education, medical services, transport and other regular expenditures made by households.

"From year to year spending habits gradually change due to shifts in income levels, new developments in technology and changes in price levels. As a result this shopping basket must be reviewed periodically and updated to reflect the typical spending patterns of households.'' The last survey was taken in 1982 and the department is looking for any significant changes over the past 11 years.

The spokesman said: "The information collected from the survey will also have other immediate uses.

"It will provide benchmark date for the National Accounts of Bermuda, assist policy makers in analysing the effects of various policy measures and also serve as a source of reference for research into various aspects of the cost of living in Bermuda.'' To carry out the survey the temporary staff are required and inquiries can be made at the Statistical department at Global House by Monday, March 15.