<p>The existence of home production for home consumption (HPHC) in semi-subsistence households is one of the least studied features in economywide models. Neglecting the non-separability of production and consumption decisions by these households can compromise analyses of policy and external shocks in developing countries, potentially leading to misguided policy decisions. To address this issue, this paper presents an economic accounting system that incorporates HPHC and illustrates it with a social accounting matrix (SAM) for Ethiopia. SAM-based price multipliers are used to demonstrate how HPHC affects the price structure and, consequently, behavioral responses in economywide models. This paper specifically highlights how HPHC leads to deviations in price multipliers compared to those derived from a conventional SAM. Results show that multipliers estimated based on the SAM that ignores HPHC tend to, for example, overestimate the effects of exogenous price shocks on both producers and consumers, as it fails to account for the price stabilization role of own consumption. Also, failing to account for HPHC may bias downwards the effect of an exogenous increase in production costs, since the significance of own production as a source of intermediate and final demand is not fully valued. As such, this paper suggests that underrepresenting HPHC may distort policy conclusions and underscores the need for its comprehensive treatment in economywide models.</p>