Price indices of consumer goods and services

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Price index of consumer goods and services is calculated on the basis of the results of:
- surveys on prices of consumer goods and services on the retail market,
- surveys on household budgets, providing data on average expenditures on consumer goods and services; these data are then used for compilation of a weight system.

Calculating price index of consumer goods and services is done on the basis of the Classification of Individual Consumption by Purpose (COICOP) adapted for the use of Harmonized Indices of Consumer Prices (HICP).

The price index of a representative in the region included in the price survey results from relating its average monthly price to an average annual price from the previous yea The all-Polish price index of a representative included in the survey is calculated as geometric mean of price indices from all regions. Calculating price indices of groups of consumer goods and services at the lowest level of weight system aggregation is done on the basis of price indices of the representatives included in price survey in a given group by using geometric mean. They are then used by applying weight system to calculate indices of higher level of aggregation up to the price index of total consumer goods and services. price index is calculated in line with the Laspeyress’s formula by applying weights from the year preceding the reference yea.

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