Transparency is needed!

The DSEC (Statistics and Census Service) makes available two simple aggregate information lines on CPI (Consumer Price Index) maps 13, 14 and 15 (for indexes General, “A”, and “B”). This is all the information available from an aggregate whose in-depth knowledge is very important if we want the economic policy to control the market and […]

The DSEC (Statistics and Census Service) makes available two simple aggregate information lines on CPI (Consumer Price Index) maps 13, 14 and 15 (for indexes General, “A”, and “B”).
This is all the information available from an aggregate whose in-depth knowledge is very important if we want the economic policy to control the market and to protect the weakest!
Very simple information on “actual rents for housing” accounting for only 1.84 per cent of the general expenditure basket (and 1.96 and 0.88 in the “A” and “B” indices) and on “imputed rents for housing” with a 19.76 per cent share of household expenditure (20.51 and 13.44 per cent in the “A” and “B” indices), is all we have!
If my memory does not fail me, the CPI-A reflects the price evolution for 50 per cent of residents, who have an average monthly expenditure of between MOP10,000 and MOP29,999.
The CPI-B applies to 30 per cent of resident families, who have an average monthly expenditure of between MOP30,000 and MOP54,999.
Let’s make some calculations.
Supposing a family spent MOP40,000 a month, then it means that it pays less than MOP6,000 on housing rents (by applying the “B” rate).
If the family spends MOP20,000 in monthly expenses, it means that it pays less than MOP4,500 in housing (Index A).
For those who spend less than MOP10,000 or more than MOP55,000 per month, the general index (CPI General) applies.
Thus, they will pay rent of less than MOP2,000, in the first case, and less than MOP12,000 in the second.
Of course these are just average values.
For those who know the rental market and feel the speculation in their bones, the question remains: is not this scenario too whitewashed?
Look.
Statistical data points to decreases in rents in the last 12 months (up to May 2017) between 2 and 3 percent in all indices: General, “A” and “B”.
But for the first time in many months, there was a monthly increase in rents for last May, although less than two tenths of a per cent.
Will the index finally show what everyone already feels in their bones?
There is nothing more about the rental market in our financial center!
We cannot understand why such an important variable does not deserve quarterly treatment, as happens for instance with real estate prices!
How can we be “scientific” in economic policy, without proper accurate statistical information?
Our statistics department works well, but it seems to me, not well enough when we want to know the reality of the rental market!

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