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Metadata Glossary

CodeFP.CPI.TOTL.ZG
Indicator NameInflation, consumer prices (annual % growth)
Short definitionInflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
Long definitionInflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. This indicator denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.
SourceInternational Financial Statistics database, International Monetary Fund (IMF)
TopicFinancial Sector: Exchange rates & prices
DatasetWDI
Unit of measure%
PeriodicityAnnual
Reference period1960-2024
Aggregation methodMedian
Statistical concept and methodologyMethodology: Consumer Prices Indices are compiled in accordance with international standards: Consumer Price Index Manual, 2020 or 2004 version. Specific information on how countries compile their CPI statistics can be found on the IMF website: https://dsbb.imf.org/ Statistical concept(s): The conceptual basis of a consumer price index series is to measure the rate at which prices of consumption goods and services are changing from one period to another.
Development relevanceA general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.
License URLhttps://datacatalog.worldbank.org/public-licenses#cc-by
License TypeCC BY-4.0
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