G20 consumer price index

The Consumer Price Index consumer price index (CPI) of the Group of Twenty major economies (G20) is intended to be a timely measure of inflation for the G20 countries.

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Introduction

The Consumer Price Index consumer price index (CPI) of the Group of Twenty major economies (G20), G20-CPI henceforth, is intended to be a timely measure of inflation for the G20 countries.

In the aftermath of the 2008 global financial crisis, several data gaps were recognised. In response, twenty recommendations to address the data gaps and improve statistical information were agreed upon by the G20 Finance Ministers and Central Bank Governors: the G20 Data Gaps Initiative (DGI).

In this context, the 'All-items' consumer price index (CPI) is one of the main indicators of the compilation of zone-aggregates for the G20-CPI as a total.

Data sources and availability

The OECD publishes the G20-CPI aggregate each month as part of the OECD CPI news release following the release of national CPI and HICP data by G20 economies and Eurostat . The news release is published at the end of each month following the end of the reference period or the early beginning of the following month.

Geographical coverage

The members of the G20 include the European Union and 19 individual countries: Argentina, Australia, Brazil, Canada, People’s Republic of China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, the Russian Federation, Saudi Arabia, South Africa, Turkey, the United Kingdom, and the United States.

Calculation of the CPI all-items and for the G20 aggregate

The G20-CPI aggregate is calculated as a weighted average of the fifteen countries that are not part of the European Union (that is, the fifteen individual country members of the G20 other than France, Germany, Italy and the United Kingdom) and the harmonised index of consumer prices (HICP) for the European Union. It is compiled as a chain-linked Laspeyres-type index and it is only calculated for the all-items.

Further information

Further details on the backgrounds and methodology of G20-CPI, as well as more technical information on the compilation of the index or the comparability issues of CPIs across G20 economies can be found under the See external links.