The National Administrative Department of Statistics (Dane) announced an important change in the date of disclosure of the Consumer Price Index (CPI), a measure that has a significant impact on the country’s economy. As of June 2023, the data will no longer be released on the fifth calendar day, but on the fifth business day of the month.
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The director of the Dane, Piedad Urdinola, contributed to this modification, highlighting that the new measure will come into force next June. In addition, Urdinola will update that, unlike what was previously established, andThe data will not be disclosed at 6:00 am, but at 6:00 pm, thus adjusting to a new presentation dynamic.
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Piedad Urdinola, director of the National Department of Statistics.
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It is important to highlight that this change in the dissemination date will not affect other stages of the statistical process of construction of the index, such as data collection, analysis or processing. The director of the Dane emphasized that la change relates only to the disclosure date, without altering the rigorous CPI construction process.
Urdinonala explained that this decision is based on an analysis of international methodologies and is aligned with the practices of other countries. As recommended by the International Monetary Fund’s CPI manual, index estimates «are published as soon as possible, usually around 10 days after the end of the last month or quarter.»
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The director of the Dane also said that In other Organization for Economic Co-operation and Development (OECD) countries, a release date is defined, but not a specific time.
Therefore, this change in the date and time of disclosure of the Consumer Price Index reflects Dane’s efforts to adapt to the best international practices and provide accurate and timely information to the different actors in the country’s economic sphere.
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