Grenada - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Grenada was 108.58 as of 2021. As the graph below shows, over the past 45 years this indicator reached a maximum value of 108.58 in 2021 and a minimum value of 17.31 in 1976.

Definition: Consumer price index reflects changes in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used. Data are period averages.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1976 17.31
1977 20.50
1978 24.22
1979 29.28
1980 35.67
1981 42.37
1982 45.68
1983 48.46
1984 51.21
1985 52.49
1986 52.78
1987 52.32
1988 54.41
1989 57.45
1990 59.02
1991 60.58
1992 62.87
1993 64.64
1994 67.07
1995 68.33
1996 69.71
1997 70.58
1998 71.55
1999 71.97
2000 73.54
2001 75.85
2002 76.66
2003 78.31
2004 80.12
2005 82.91
2006 86.43
2007 89.77
2008 96.98
2009 96.68
2010 100.00
2011 103.03
2012 105.52
2013 105.47
2014 104.43
2015 103.90
2016 105.61
2017 106.57
2018 107.43
2019 108.07
2020 107.27
2021 108.58

Development Relevance: A general and continuing increase in an economy’s price level is called inflation. The increase in the average prices of goods and services in the economy should be distinguished from a change in the relative prices of individual goods and services. Generally accompanying an overall increase in the price level is a change in the structure of relative prices, but it is only the average increase, not the relative price changes, that constitutes inflation. A commonly used measure of inflation is the consumer price index, which measures the prices of a representative basket of goods and services purchased by a typical household. The consumer price index is usually calculated on the basis of periodic surveys of consumer prices. Other price indices are derived implicitly from indexes of current and constant price series.

Limitations and Exceptions: Consumer price indexes should be interpreted with caution. The definition of a household, the basket of goods, and the geographic (urban or rural) and income group coverage of consumer price surveys can vary widely by country. In addition, weights are derived from household expenditure surveys, which, for budgetary reasons, tend to be conducted infrequently in developing countries, impairing comparability over time. Although useful for measuring consumer price inflation within a country, consumer price indexes are of less value in comparing countries.

Statistical Concept and Methodology: Consumer price indexes are constructed explicitly, using surveys of the cost of a defined basket of consumer goods and services.

Base Period: 2010

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Exchange rates & prices