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2 clusters · 12 sources · 20 days · First seen · Last updated

Methodologies for measuring consumer baskets

Overview

Discussions regarding the measurement of consumer baskets and living standards highlight methodological distinctions between different statistical tools.

In Montenegro, the Statistical Office (Monstat) clarified that its minimal consumer basket data, which has not been updated since December 2023, is methodologically incomparable to the trade union consumer basket published by the Union of Free Trade Unions of Montenegro (USSCG). Monstat noted that due to differences in concept and calculation, the two indicators cannot be linked into a single time series to track changes in the cost of living.

On a broader scale, European Union methodologies distinguish between measuring inflation and assessing minimum living standards. While Eurostat uses the Harmonized Index of Consumer Prices (HICP) to monitor actual household spending patterns, the European Commission utilizes reference budgets to assess the costs necessary for an acceptable standard of living, accounting for social participation and family composition.

Entities

European Union · Union of Free Trade Unions of Montenegro · Ministry of Economy and Labor · Eurostat · Monstat

Timeline

  1. [BUSINESS] 7 sources
    European Union methodology for measuring consumer baskets and living standards

    The EU uses diverse statistical tools like the HICP to measure inflation and consumption, distinguishing between actual household spending and the costs required for a dignified standard of living.

  2. [BUSINESS] 5 sources
    Monstat: Minimal and trade union consumer baskets are methodologically incomparable

    Monstat has declared that its minimal consumer basket data and the trade union consumer basket are methodologically incomparable and should not be used to draw conclusions about changes in living standards.

Sources

bankarstvo.mk · bigportal.ba · cginfo.me · denar.mk · etv.me · opserver.mk · panoptikum.mk · racin.mk · radiotitograd.me · trn.mk · vijesti.me · vocentar.com