Consumer price index weights by commodity groups (ECOICOP)
Consumer price index (CPI)
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.
Database contains weighted arithmetical average prices of selected consumer goods (mainly food products and selected non-food commodities) which may be easily grouped and described according to common characteristics. Prices of goods wide range of which is offered, are not published, e.g., clothing, footwear, electrical appliances, etc.
The main intention of the price registration is evaluation of price changes during a certain period of time aimed at calculating the CPI.
Qualitative goods with price discounts offered to all buyers are also taken into account in the price registration.
Prices are shown including all taxes.