Posted: Wednesday, March 6, 2019. 8:15 p.m. CST.
By BBN Staff: The Statistical Institute of Belize (SIB) is preparing to close the data collection section of the ongoing Household Budget Survey (HBS), which will be used to update the Consumer Price Index (CPI).
The SIB issues a CPI on a monthly basis to inform Belizeans about the changes in price for goods and services, using a predetermined list of products called a CPI Basket. The HBS seeks to inform of changes in consumer spending as well as to mark new items being purchased that were previously unavailable when the last CPI Basket was set up.
The SIB said that the data collection, which entails surveyors going into the field and speaking to people, will wrap up by mid-March, then the institute will move on to the various quality assurance checks that go into preparing the report.
The HBS is the first of its kind since the Household Expenditure Survey done in 2008. The survey consists of four rounds of data collection that run for five weeks at a time. The survey, which has a sample size of 3,000 households, is the first of its kind to be conducted since the Household Expenditure Survey held in 2008.
The survey contains three types of questionaries: a Household Questionnaire, administered to one household member by an interviewer, which collects information on spending at the household level; an Individual Questionnaire, also administered by an interviewer, for all household members 14 years and older to collect individual spending information; and a Place of Purchase Questionnaire, which is left at the household to collect information about the names of the businesses where households usually spend their money.
“Spending patterns have changed over the past ten years. People are not buying the things they used to and for the things they are still buying they might not be buying the same amounts,” the SIB said.
© 2019, BreakingBelizeNews.com. This article is the copyrighted property of Breaking Belize News. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.