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CPI: Housing market not included

2010-03-04 21:48 BJT


China's Consumer Price Index, the main gauge of inflation, does not include housing prices. This has led to criticism that the CPI is not truly accurate.

In response, the top statistician says the government will improve methods of CPI calculation, but he stopped short of saying house prices will be covered in future.

Ma Jiantang, chief of the National Bureau of Statistics, says the bureau is considering introducing a price index for the property market, similar to the stock index. He says that would help better reflect changes in prices.

He also says the bureau will improve data collection and calculation procedures.

He added that in other countries, housing prices were not included in the calculation of the CPI, and that this was "an internationally accepted rule".

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Editor: Liu Fang | Source: