Inflation is the change in the price of a basket of goods and services that are typically purchased by specific groups of households.

Inflation is measured by consumer price index (CPI) in terms of the annual growth rate and in index, with a breakdown for food, energy and total excluding food and energy. 

A consumer price index is estimated as a series of summary measures of the period-to-period proportional change in the prices of a fixed set of consumer goods and services of constant quantity and characteristics, acquired, used or paid for by the reference population. Each summary measure is constructed as a weighted average of a large number of elementary aggregate indices. Each of the elementary aggregate indices is estimated using a sample of prices for a defined set of goods and services obtained in, or by residents of, a specific region from a given set of outlets or other sources of consumption goods and services. Inflation measures the erosion of living standards.

This indicator is measured as the growth rate over one year of the CPI index.