Consumer Price Index (CPI)

• Press release
• Monthly series
• Detailed results
• Methodology
• Characteristics of the CPI, base 2021

Description

The objective of the Consumer Price Index (CPI) is to provide a statistical measurement of the evolution of the set of prices of goods and services that the resident population in family dwellings in Spain consumes.

This index is compiled with nearly 210,000 prices reported by some 29,000 establishments distributed in 177 municipalities throughout the country. The data collection on 462 items is carried out in the traditional way (by personal visit to the establishments on the corresponding dates), as well as by telephone and e-mail. In addition, by automated means (such as scanner data or web scrapping), data is collected for another 493 items. For some tariffed items, information is obtained from the corresponding official publications.

CPI History

The first price indices that were calculated in Spain go back to 1936 and these served as a base to establish the first Quality of Life Indices System that was maintained in force until December 1960. Subsequently two new systems entered into force with base years 1958 and 1968.

With the entry into force of the system base 1976 the indicators received the denomination of Consumer Price Indices. This system introduced significant novelties such as the classification of consumption into eight major groups and the creation of indices for each one of the Autonomous Communities. Since then another two CPI systems have existed with base years 1983 and 1992.

In January 2002 the CPI Base 2001 system entered into force. Among the main CPI Base 2001 novelties its publication in twelve groups stands out, motivated by the adaptation of the COICOP, as well as the update of the weightings of these twelve groups based on the information provided by the Continuous Household Budget Survey.

The CPI base 2001 includes sales prices, the annual revision of weightings and the linking of the indices is noteworthy.

The first indices in base 2006 were published in January 2007. The sample of municipalities increases in 25%, the number of prices collected increases 12% and the number of articles in the shopping basket increases to 491.

In January 2012 data were published in base 2011. The shopping basket of the Base 2011 CPI includes new articles such as notebooks, tablets, portable hard drives, laser hair removal and speech therapist. Similarly, others disappear whose consumption is no longer significant, such as recordable CD or movie rentals.

In January 2017 the first indices in base 2016 were published. This base incorporates the new European classification of consumption ECOICOP, which implies a greater breakdown of the information (the number of subclasses is extended to 219). The shopping basket of the Base 2016 CPI includes new articles such as online video and music services, games of chance or single-serve coffee. Similarly, others disappear such as brandy, camcorder or recordable DVD.

In January 2022, the CPI starts to be published on a 2021 basis. New treatments are incorporated for the monitoring of clothing prices and for the processing of price misses. The number of subclasses is reduced to 199. New items such as hygiene masks and online newspaper subscriptions are added to the CPI shopping basket. And others such as picture players, portable players, DVDs and compact discs are eliminated.

In January 2023, a new weight calculation procedure is introduced, based on national accounts and in accordance with the criteria established by European regulations. In addition, the coverage of electricity and gas is extended with the incorporation of free market prices.

CPI Groups

The 12 CPI Base 2021 Groups are subdivided into 41 subgroups, 92 classes and 199 subclasses; 56 headings and 29 Special Groups.

The 12 groups that make up the CPI and its weightings for 2024 are:

• Press release
• Monthly series
• Detailed results
• Methodology
• Characteristics of the CPI, base 2016