Consider the following statements regarding the Household Consumption Expenditure Survey (HCES): 1. HCES data is used in revising the basket and weights of goods and services used for calculating the Consumer Price Index (CPI). 2. Monthly Per Capita Consumption Expenditure (MPCE) is derived from HCES data. 3. HCES is conducted annually by the Ministry of Statistics and Programme Implementation. Which of the statements given above is/are correct? |ForumIAS

Q. Consider the following statements regarding the Household Consumption Expenditure Survey (HCES):
1.HCES data is used in revising the basket and weights of goods and services used for calculating the Consumer Price Index (CPI).
2.Monthly Per Capita Consumption Expenditure (MPCE) is derived from HCES data.
3.HCES is conducted annually by the Ministry of Statistics and Programme Implementation.
Which of the statements given above is/are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A

Notes:

Explanation: HCES provides data used for analysing consumption patterns and for revising the CPI basket and weights. MPCE is a key indicator derived from HCES. However, HCES is not conducted annually; the government intends to conduct it roughly once every three years.

Source- IE

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS