Consumer price index
Consumer price index (CPI) reflects changes in the prices of consumer goods and services in a specified period of time. The CPI measures the average level of price changes in a fixed amount of selected goods and services (the consumer basket). This indicator is used as a principal measure of inflation in Latvia.
The CPI reference period is year 2015, which is expressed by 100 index points (2015 = 100).
Price changes during a month, year or any other period are calculated on the basis of price indices. Price indices with the reference periods 2010 = 100, 2005 = 100, 2000 = 100 or December 1990 = 100 are used to calculate price changes over a longer period of time.
CPI is pure price index. It does not reflect the changes in purchasing/ consumption patterns or brands and does not reflect the effect of outlet and service provider substitution.