Glossary of Terms
Consumer Price Index (CPI) – Indicator of the change in the average prices of a fixed basket of goods and services commonly purchased by households relative to a base year.
Inflation Rate - the annual rate of change or the year-on-year change in the Consumer Price Index.
Headline inflation measures changes in the cost of living based on movements in the prices of a specified basket of major commodities and refers to the year-on-year change in the Consumer Price Index (CPI)
Core inflation is a measure of inflation that aims to capture the permanent component of the inflationary process that can be influenced by monetary policy.
Producer Price Index (PPI) - statistical measure of the average changes in average prices of a basket of goods as they leave the establishment of the producers relative to a base period.
Producer Price Index (PPI) for Agriculture - statistical measure of the average changes in average farmgate prices of a basket of goods relative to a base period.
Purchasing Power of the Peso - a measure of the real value of the peso in a given period relative to a chosen reference period. It is computed by getting the reciprocal of the CPI and multiplying the result by 100
Retail price - the price at which a commodity is sold for spot in small quantities for consumption.
Retail Price Index (RPI) – statistical measure of the changes in the prices at which retailers dispose of their goods to consumers or end-users relative to a base year.
Wholesale Price – the average price of a commodity transacted in bulk for further resale or processing.
Wholesale Price Index (WPI) - statistical measure of average changes over time in the wholesale prices of commodities relative to a base year.
Definitions are per NSCB Resolution No. 11, Series of 2003 Annex-BR-11-2003-1.
Definitions for Headlne and Core Inflation are per NSCB Resolution No. 6, Series of 2003 Annex-BR-6-2003-1