Consumer price index

Description

Purpose and brief description The consumer price index is an economic indicator whose main task is to objectively reflect the price evolution over time for a basket of goods and services purchased by households and considered representative of their consumer habits. The index does not necessarily measure the price level of this basket for a specific period of time, but rather the fluctuation between two periods, the first one acting as basis for comparison. Moreover, this difference in the price level is not measured in absolute, but in relative terms. The consumer price index can be determined as a hundred times the ratio between the observed prices of a range of goods and services at a given time and the prices of the same goods and services, observed under the same circumstances during the reference period, chosen as basis for comparison. Price observations always take place in the same regions. Since 2014, the consumer price index has been a chain index in which the weighting reference period is regularly shifted and prices and quantities are no longer compared between the current period and a fixed reference period, but the current period is compared with an intermediate period. By multiplying these short-term indices, and so creating a chain, we get a long-term series with a fixed reference period. Population Belgian private households Data collection method and possible sampling Survey technique applied using a computer, based on the use of electronic questionnaires and laptops. Frequency Monthly. Timing of publication The results are available on the penultimate working day of the reference period. Definitions Weight (CPI): The weight represents the importance of the goods and services included in the CPI in the total expenditure patterns of the households. Weights are determined based on the household budget survey. Consumer price index (CPI): The consumer price index is an economic indicator whose main task is to objectively reflect the price evolution over time for a basket of goods and services purchased by households and considered representative of their consumer habits. Health index: The health index is derived from the consumer price index and has been published since January 1994. The current value of this index is determined by removing a number of products from the consumer price index product basket, in particular alcoholic beverages (bought in a shop or consumed in a bar), tobacco products and motor fuels except for LPG. Inflation: Inflation is defined as the ratio between the value of the consumer price index of a given month and the index of the same month the year before. Therefore, inflation measures the rhythm of the evolution of the overall price level. Consumer price index without petroleum products: This index is calculated by removing the following products from the consumer price index: butane, propane, liquid fuels and motor fuels. Consumer price index without energy products: This index is calculated by removing the following products from the consumer price index: electricity, natural gas, butane, propane, liquid fuels, solid fuels and motor fuels. Smoothed index: The smoothed health index, also called smoothed index (the average value of the health indexes of the last 4 months) is used as a basis for the indexation of retirement pensions, social security benefits and some salaries and wages. Public wages and social benefits are indexed as soon as the smoothed index reaches a given value, called the central index. The smoothed index is also called moving average. In order to perform a 2% index jump (laid down in the Law of 23 April 2015 on employment promotion), the smoothed health index has been temporarily blocked at its value of March 2015 (100.66). The smoothed health index was then reduced by 2% from April 2015. When the reduced smoothed health index (also called the reference index) had increased again by 2% or in other words when it had exceeded the value of 100.66, the index was no longer blocked. It occurred in April 2016. Since April 2016 the smoothed health index is calculated in the same manner as the reference index and therefore corresponds to the arithmetical mean of the health indexes of the last 4 months multiplied by a factor of 0.98. The central index is a predetermined threshold value against which the smoothed health index is compared. If the central index is reached or exceeded, there is an indexation of the wages and salaries or benefits. This indexation is proportional to the percentage between the old and the new central index. For the public sector and social benefits, the difference between the central indices always amounts to 2 %. Therefore, a 2 % indexation is applied every time the central index is reached. There are also collective labour agreements according to which the difference between the central indices amounts to 1 % or 1.5 %. The reaching of a central index then leads to an indexation of 1 % or 1,5 %. See also: https://bosa.belgium.be/nl/themas/werken-bij-de-overheid/verloning-en-voordelen/loonwedde/indexatie/indexatie-algemene And : https://bosa.belgium.be/fr/themes/travailler-dans-la-fonction-publique/remuneration-et-avantages/traitement/indexation-0 An effect on inflation shows the changes on the inflation rate by including this product group in the CPI calculation. The effect not only takes the weight of the product group into account, but it also takes into account whether the product group inflation is higher or lower than that of the total expenditure (overall CPI). The contribution to inflation of a specific product group shows how much of the change in the total expenditure is due to the price variation of this product group. Metadata Monthly survey of consumer prices by surveyors in stores.pdf Enquête 'Private huur'.pdf Consumptieprijsindexen.pdf Huishoudbudgetonderzoek.pdf Enquête 'sociale huur'.pdf Statbel’s pre-release policy for the consumer price index (CPI) Index-phone 02/277.56.40

Resources

Name Format Description Link
33 https://statbel.fgov.be/en/themes/consumer-prices/consumer-price-index
53 https://statbel.fgov.be/fr/themes/prix-la-consommation/indice-des-prix-la-consommation
54 https://statbel.fgov.be/nl/themas/consumptieprijsindex/consumptieprijsindex
54 https://statbel.fgov.be/en/themes/consumer-prices/consumer-price-index
53 https://statbel.fgov.be/de/themen/verbraucherpreise/verbraucherpreisindex
54 https://statbel.fgov.be/de/themen/verbraucherpreise/verbraucherpreisindex
53 https://statbel.fgov.be/en/themes/consumer-prices/consumer-price-index
54 https://statbel.fgov.be/nl/themas/consumptieprijsindex/consumptieprijsindex
33 https://statbel.fgov.be/de/themen/verbraucherpreise/verbraucherpreisindex
33 https://statbel.fgov.be/nl/themas/consumptieprijsindex/consumptieprijsindex
33 https://statbel.fgov.be/fr/themes/prix-la-consommation/indice-des-prix-la-consommation
54 https://statbel.fgov.be/en/themes/consumer-prices/consumer-price-index
54 https://statbel.fgov.be/de/themen/verbraucherpreise/verbraucherpreisindex
53 https://statbel.fgov.be/nl/themas/consumptieprijsindex/consumptieprijsindex
54 https://statbel.fgov.be/fr/themes/prix-la-consommation/indice-des-prix-la-consommation
54 https://statbel.fgov.be/fr/themes/prix-la-consommation/indice-des-prix-la-consommation

Tags

  • verbraucherpreise
  • consumptieprijsindex
  • prix-à-la-consommation
  • consumer-prices

Topics

  • ECON

Categories