Consumer Price Indices - Basic Information
Introductory note | Contents |
This publication gives a general overview of the movement of price levels in the consumer sphere. Released since 2001 have been price indices calculated according to new revised index patterns, which are based on the structure of consumption of households in 1999.
The weight systems and samples of price representatives were revised in the framework of a comprehensive revision, which was run for individual price areas during 2000. Put in use was also the Classification of Individual Consumption by Purpose (CZ-COICOP). The weights were determined from household budgets statistics and the data were adjusted by national accounts statistics.
At the same time, the basic period was changed. It is now December 1999 for new indices released since 2001. The average of 2000 was introduced for all price indices as a standard index reference period, which is calculated in a derived way from the constant base December 1999 like other price bases.
The price indices are calculated for prices of samples of representatives and for selected reporting units by aggregating simple price indices into an aggregate using a modified Laspeyres formula. The calculation uses 1999 constant weights.
p0 = the basic period price of a good (service),
p0q0 = the constant weight: expenditures of households on a good (service) at the basic period.
A detailed breakdown of the aggregate indices is given in the publication Consumer Price Indices, including methodological notes, which is available as a rule on the 25th calendar day following the basic period.
Continuation of the time series published before 2001 and still valid and of the revised indices released since January 2001 is ensured by using coefficients (conversion bridges) calculated from the ratio of revised December 2000/December 1999 indices to original December 2000/December 1999 indices.