CONSUMER PRICE INDEX (CPI) AND INFLATION RATE (IR)
Agency Responsible National Statistics Office (NSO)
Disaggregation Geographic Area: National/Regional/Provincial
Commodity Group: Major/Minor
Availability National/Regional from 1972; with Base Year 1994
Dissemination National: Five (5) days after reference month
Regional/Provincial: 5 - 7 days after reference month
Other Information Data derived from survey of retail prices of goods and services by NSO and
Bureau of Agricultural Statistics (BAS); indices derived using Laspeyre’s
Data available from 1957 to 1965; base year is 1957.
1965 - 1972; base year is 1965
1973 - 1978; base year is 1972
1979 - 1988; base year is 1978
1989 - 1994; base year is 1988
1995 - 2000; base year is 1994
2001 to present; base year is 2000
Definition of Terms
Base Period period of time chosen as reference on which index number was computed.
Base Price price of a unit of a commodity at some period of time chosen as reference, on
which index number was computed.
Consumer Price price at which a specified group of consumers buy a commodity for
Consumer Price Index statistical measure of the average changes in prices of a “fixed basket” of
goods and services, usually purchased on small quantities for consumption by
an average household. Also known by its acronym CPI.
Inflation Rate growth rate in the Consumer Price Index (CPI).
CPI (Current Year)
Inflation Rate = --------------------------- - 1 x 100
CPI (Previous Year)