The Department of Statistics will launch the 2024 Household Income and Expenditure Survey (HIES) data collection will commence on January 2, 2024.
A Government spokesperson said, “This island-wide survey is of critical importance to Bermuda as it collects information on all types of expenditures by Bermuda’s consumers, including food, housing, clothing, and transportation, which comprise some of the main groups.
“Data on the various sources of household income is also obtained.“
Once completed, information obtained from the survey is used to:
1. Update the basket of goods and services and household expenditure weights to calculate the Consumer Price Index (CPI) by sector. The CPI is then used for adjusting salaries, insurance premiums, rents, etc.
2. Obtain income and expenditure patterns of households.
3. Indicate the living standards of Bermuda’s residents.
4. Update the consumer expenditure estimates for estimating the Gross Domestic Product for Bermuda.
5. Support informed decision-making by the Government and the private sector.
Households already randomly selected to complete the survey have been sent letters advising the month of their interview, as data collection will last a year to account for seasonality,“ the spokesperson added,
“Interviewers will be visiting the selected households and will have a letter of authenticity and an ID card identifying themselves as an authorized representative from the Department of Statistics.
“Households not assigned an interviewer will be provided with a diary and asked to call the Department of Statistics to arrange an interview.
“To help facilitate these interviews, the Department of Statistics seeks additional interviewers and encourages those interested in joining the interview team to email email@example.com for more information.
“The Department of Statistics takes this opportunity to thank the public for their understanding, patience and cooperation throughout this process.”