IMF DATA

The Consumer Price Index (CPI) dataset includes national consumer price indexes by economy and their associated weights and contributions to national annual inflation. The national CPI, referred to as consumer price index (CPI) in the dataset, is the official headline inflation for a given economy. The CPI dataset also includes Harmonized Indices of Consumer Prices (HICPS) for those economies in the European Union. The HICP is not the official inflation rate for an economy, it is used as an input into measuring regional inflation for the European Union and Euro Zone and its primary use is an input into Euro Zone monetary policy decisions.  Consumer price indexes measure the relative changes over time in the prices of goods and services purchased by households, which households use directly, or indirectly, to satisfy their own needs and wants. CPIs are widely used to index wages, salaries, pensions, and social security benefits.  CPIs are also used to index other payments, such as interest payments or rents, or the prices of bonds.  CPIs are also commonly used as a proxy for the general rate of inflation, even though they measure only consumer inflation.  They are used by governments or central banks to set inflation targets for purposes of monetary policy.  The price data collected for CPI purposes can also be used to compile other indices, such as the price indices used to deflate household consumption expenditure in the national accounts, or to support the compilation of purchasing power parities used to compare real levels of consumption in different countries.  The statistics are sourced from national authorities (central banks, national statistical institutes, ministries of finance) and collected using the IMF's Consumer Price Index Report Form. Where possible, the IMF has entered into data sharing agreements with international organizations who collect the same or similar statistics from national authorities.  In these cases, the IMF sources the statistics from the international organization to reduce the reporting burden on countries.