Wednesday (10/03/24) BPS-Statistics of Nagekeo Regency held a Refreshing Price Development Index (IPH) 2024 activity. This activity invited employees from the Cooperatives, Small and Medium Enterprises, Industry and Trade Department of Nagekeo Regency.
IPH is an index that measures changes in the prices of 20 food commodities that have a large weight in the consumer price index (CPI) and can be influenced by local government policies. IPH uses weights from expenditure results in the National Socio-Economic Survey (Susenas) of Nagekeo Regency. If there were IPH commodities that were not available in the Susenas, then sister city CPI weights were used for those commodities, which are the CPI weights of cities/districts that have similar consumption characteristics to Nagekeo Regency.
IPH has several advantages, such as being able to be controlled in the short term, can be used as a means of evaluating the performance of regional heads in controlling inflation, and is easy to calculate and understand. IPH is calculated by BPS RI with data sources from the local trade office, in this case the Cooperatives, Small and Medium Enterprises, Industry and Trade Department of Nagekeo Regency.
The 20 commodities included in the IPH calculation are rice, purebred chicken meat, eggs, shallots, red chili, cayenne pepper, cooking oil, granulated sugar, garlic, beef, wheat flour, milkfish, kale, bananas, and oranges. Each commodity has its own weight, with the largest weights being rice (28.50%), broiler chicken meat (10.14%), and eggs (7.86%).
The IPH is expected to assist local governments in controlling inflation and maintaining the stability of food prices. IPH can also be an indicator of community welfare, as food is a basic need that must be met. IPH can also be an input for the central government in formulating macroeconomic policies that have an impact on inflation
