26 October 2001, 09:37 Shiokawa urges review of methods for compiling CPI data
TOKYO, Oct. 26 (Kyodo) - Finance Minister Masajuro Shiokawa
urged the government Friday to review the methods it uses to
compile consumer price index (CPI) data in order to better reflect
changing consumer attitudes.
"I said at informal talks after the cabinet meeting that
factors surrounding the consumer price index have changed
substantially and that I want them reviewed," Shiokawa told a
regular press conference.
He said consumers are buying more goods via mail order than
before and spending more on cultural accomplishments, adding such
changes are not well reflected in the current CPI data
Public Management, Home Affairs, Posts and Telecommunications
Minister Toranosuke Katayama responded that his ministry is
reviewing the statistics to obtain more accurate views on
consumption, according to Shiokawa.
On Friday, the public management ministry said Tokyo consumer
prices fell 0.1% in October from the month before.
Meanwhile, Shiokawa reiterated the government's budget for
fiscal 2002 could dip below 80 trillion yen for the first time in
four years.
"I think the fiscal 2002 budget may fall below 80 trillion yen,
although I am not sure about that," he said.
He said the fiscal 2002 budget will definitely be less than the
fiscal 2001 budget of 83.6 trillion yen, which includes a proposed
supplementary budget.
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