HuMuch’s Global Consumer Price Index (GCPI) measures the change over time in prices paid by consumers. It differs from traditional CPI; in that, (i) GCPI facilitates comparison across different countries, and (ii) GCPI focuses on global brands such as Apple iPads, Ray-Ban sunglasses, and Hertz car rentals as well as traditional CPI items. The index includes sales taxes (value added taxes) that are directly associated with the purchase of goods and services.
The source of data is HuMuch’s crowdsourced consumer prices. The index calculation is based on a market-wide basket of goods and services and the use of expenditure category weights. Weights represent the proportion of expenditure with respect to total expenditure. The formula is the following:
Index(time period) = Sigma(i) [ (Weight(i) * Price (i)(time period)]
The reference year is 2013 (2013 = 100). An index of 120, for example, means that prices have increased 20% compared to the reference point. Similarly, an index of 80 means prices have decreased by 20%.
Previous GCPI Releases:
2014 Annual Averages GCPI 2014_Annual Averages_Final
Upcoming GCPI Releases:
2015 Semi-Annual Averages. Publishing August 2015
2015 Annual Averages. Publishing February 2016
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