STATNEWS
Core Inflation Briefing Conducted
The
Task Force on the Information Campaign for the Compilation of Core Inflation
conducted a Briefing on Core Inflation and other Relevant Statistics
in the region on February 18, 2005 at the RDC Conference Room, NEDA Regional
Office 8. A total of 48
participants coming from NGAs, LGUs, Academe and the Private Sector attended
the orientation.
NSO Administrator Carmelita N. Ericta discussed Headline Inflation and the New Definition of Unemployment, while Mr. Joselito Basilio, Bank Officer II of BSP, talked on Core Inflation.
The briefing aimed to promote awareness on the importance and usefulness of core inflation in economic policy formulation, particularly monetary policy. The adoption of an official definition and methodology for core inflation has been approved by the NSCB through Resolution No. 6 (Series of 2003), which aims to capture the general underlying trend in prices by filtering out the effects of temporary disturbances or shocks on the Consumer Price Index (CPI). The half-day briefing also featured the new definition (Standard ILO) of unemployment, which includes the “availability criterion”.
The Task Force is composed of representatives from the National Statistics Office (NSO), Statistical Research and Training Center (SRTC), Bangko Sentral ng Pilipinas (BSP) and the National Statistical Coordination Board (NSCB). NEDA, being the chair of the Technical Committee on Price Statistics (TCPS) also took part in the campaign by coordinating the activity.
Dir. Buenaventura C. Go-Soco, Jr. of NEDA, Dir. Rolando C. Dimaunahan of NSO, Ms. Evangeline M. Paran of NSCB and Ms. Rosemarie Lumbre of NSO-Biliran, also graced the activity.
In his Closing Remarks, Dir. Gervacio G. Selda of SRTC mentioned that the Task Force has already conducted a series of briefings last year in Region I (Laoag), Region III (Pampanga), Region IV-A (Lipa) and Region V (Legazpi).
2005
2004
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