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Field Detail
Theme Population and Development
Code PD-ECD-1.3
Sub-theme Economic Development
Name Consumer Price Index - Annual change in quarterly CPI
Definition The CPI is a summary indicator designed to measure changes over time in the general levels of prices of goods and services that a reference population acquires, uses, or pays for (ILO:2012:31). Price collection through postal survey, personal visits, telephones and via electronic mode. The CPI is constructed as a weighted average of a large number of elementary aggregate indices. Each of these is estimated using a sample of prices for a defined set of goods (basket good goods) and services obtained in, or by residents of a specific region from a given set of outlets or other sources of consumption goods and services. Given the multiple uses of the CPI, there are various ways of constructing it (see ILO et al, Consumer price index manual. Theory and Practice, Geneva 2004)."
Calculation/Formula (Annual CPI - Annual CPI previous year)/(Annual CPI previous year) *100
Unit of Measure %
Limitations Price volatility due to seasonality, price control by government etc.. are not taken care off in headline CPI.
Purpose/Rationale The CPI has multiple uses, with the two main ones being (i) adjustment of wages and benefits to take into account changes in the cost of living and consumer prices; and (ii) indicating average price inflation (ILO, ditto).
Preferred Data Sources National Consumer Price Indexes
Alternative_Data Sources National Accounts
Primary Data Collection System National Administrative Records - National accounts, government budgets and plans
Economic Tag CPI
Frequency of Data Collection Annual worked out from either monthly or quarterly price collections.
SPC Responsibility - Data Management SDP
SPC Programme SDP