|Unit||Index 2015=100, NSA|
|Adjustments||Not Seasonally Adjusted|
The consumer price index 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 base or comparison periods are the years 2010 and 2015, which is expressed by 100 index points (2010=100) or (2015=100). Price changes during a month, year or any other period are calculated on the basis of price indices.
Source of data
The CPI covers all resident population of the country, and is conducted in Riga and 11 district centres. By using the population weights, survey data are expanded to the whole country, both urban and rural areas.
Approximately 2.3 thousand various trade outlets and market service establishments are surveyed. In total, more than 19,000 prices are observed each month.
Description of data
Prices of most goods are recorded every month fromt he 8th to the 20th of the reference month, while selected goods with larger price fluctuations are monitoried over a longer period of time. The weights are computed to represent the proportion of expenditures for each individual commodity to total household expenditure and are review every year.
The Household Budget Survey is a prominent source used for the calculation of weights, while macroeconomic calculations, business statistics and information from organizations, and shops and enterprises are used as additional sources.
Methods of calculation
At first, the average prices of products and services are collected, then the whole country average is calculated as simple arithmetic mean.
All goods and services in the CPI basket are grouped according to the classification of individual (final) consumption by purpose (international designation COICOP).
Due to specifics of electronic data processing technologies and rounding adjustments, minor differences may occur between totals and sums of components.
The published data are final and are not the subject of revisions.