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Household Budget Survey

“Information from the Statistics and Census Service indicated that the Composite Consumer Price Index (CPI) for March this year was xxx, up by x% year-on-year, attributable to the increase in………”. CPI may be one of issues that many people are concerned about. As the CPI does not take into account prices of all goods and services, a selection of representative goods and services is therefore required. Then, how can the selection be representative? Herein, the Household Budget Survey plays an important role.

The Household Budget Survey (HBS) is conducted once every five years, which aims to collect up-to-date data on household income and consumption expenditure in Macao. It is interesting to note that the HBS has the longest data collection period among all surveys. To ensure that information collected can fully reflect the consumption patterns of households at different seasons of the year, the HBS is conducted, for one whole year, in 26 bi-weekly (14 days) cycles, each of which consists of a sample of housing units.
Apart from basic information on household members, such as year and month of birth and economic activity status, the HBS also collects information on income and benefits received, consumption expenditure, possession and acquisition of durable goods, etc. in the past 12 months.
Data collected are used for analyzing the consumption patterns, living standard and income distribution of different groups of households, as well as for updating the basket of goods and services in the compilation of the CPI. As the CPI cannot take into account prices of all goods and services purchased by households, a selection of representative goods and services is therefore required, namely a “basket” of goods and services. This “basket” of goods and services is selected in accordance with the household consumption structure derived from the HBS by obtaining the percentage share of each item of goods and services in total household expenditure.
Got it! Go to the formula.