|Unit||Index Dec2007=100, NSA|
|Adjustments||Not Seasonally Adjusted|
Due to the source not updating data in all of 2014, we have decided that we will now check for new data once a month.
The consumer price index (CPI) for the Caracas Metropolitan Area is produced and disseminated by the Central Bank of Venezuela (BCV). The Consumer price index for the Caracas Metropolitan Area CPI is a statistical indicator which measures changes in the prices of a basket of goods and services representative of household consumption in the Caracas Metropolitan Area. This index is the official measure of price movements in Venezuela and is used in policy decision-making. The National Statistics Institute (INE) produces and disseminates a national CPI.
Since January 2000, the CPI for the Caracas metropolitan area has been published with a new base year (1997=100). The weights are derived from the Second National Household Budget Survey (ENPF) carried out by the BCV in the Caracas metropolitan area during the period January 1997-March 1998. The index is calculated using the Laspeyres formula.
The type of price is the transaction price, collected at 2,000 establishments, with 370 different types of establishment (supermarkets, hypermarkets, department stores, open community markets, fast food outlets, informal businesses, etc.) for the 287 items making up the CPI basket for the Caracas metropolitan area, which represent 93 percent of household final consumption expenditure.
Data is subject to revisions.