Inflation

Source

The National Bank of Belgium (Nationale Bank van België NBB):


Definitions

General index of consumer prices: figure reflecting the evolution of the price level for a services and goods package representative of household expenditures. The FPS Economy states that the index figure does not so much measure the price level of a collection of goods and services for a given period, but rather the fluctuation of this level between two periods, with the first period being used as a basis for comparison. Moreover, this change in the price level is not measured in absolute terms, but in relative terms. The general index figure may be determined as one hundred times the ratio between the observed prices of a range of goods and services at a given time and the prices of the same goods and services observed under the same conditions during the reference period, which is chosen as the basis for comparison. The price observations are always carried out in the same regions.

Health index: this index is derived from the consumer price index, from which a number of products, such as alcoholic beverages (bought in shops or cafes), tobacco and engine fuels (excluding LPG) have been excluded. This index has been published since January 1994.

Inflation: the process of reducing the value of a currency, mainly due to the average increase in the price of goods and services purchased by consumers. Inflation is represented by a consumer price index calculated for a broad, representative collection of products (goods and services).


Remarks on quality

This is data recorded by the FPS Economy. Inquirers record the prices in approximately 10,000 shops on a monthly basis. A total of 70,000 price observations are carried out in 55 locations throughout Belgium.

There is no stratification by region.  


References

The National Bank of Belgium (Nationale Bank van België NBB): Inflation


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