|Unit||Index 2016=100, NSA|
|Adjustments||Not Seasonally Adjusted|
The Consumer Price Index (CPI) is a statistical measure of the evolution of the prices of goods and services consumed by the population that reside in family dwellings in Spain.
The combination of goods and services that conform the shopping basket is basically obtained from the consumption of families, and the importance of each one of these within the calculation of the CPI is determined by said consumption.
The base period of the CPI series, which represent the arithmetic mean of monthly indexes published was 2011=100 until December 2016. Starting January 2017, the base year has changed to 2016=100. For the harmonized index, the base is 2015=100.
The weight structure of base 2016 has been elaborated based on the Household Budget Continuous Survey expenditure on consumer goods and services. Also, in order to determine the definitive structure consumption from the National Accounts, price evolution from the CPI and other supply sources in the different sectors.
The reference stratum of the index includes in Spain nor is that of non-residents (whose expenditure, however, is included in the Harmonised Consumer Price Index EU).
The scope of CPI consumption comprises goods and services effectively paid during the base period. All imputed expenses are excluded, such as self-supplies, selfconsumption, imputed rentals and expenses subsidised by Public Administrations (for example, Health or Education), and also investment assets (such as owner occupied housing).
As of January 2012 the CPI methodology was completely renewed. The methodological changes introduced in this System has made the CPI indicator more dynamic, adapting better to the evolution of the market, given that it is possible to update the weightings more frequently. Furthermore, it is possible to include new products in the shopping basket when consumption becomes significant.
Data is subject to revisions.