Barbados - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Barbados was 134.09 as of 2019. As the graph below shows, over the past 53 years this indicator reached a maximum value of 134.09 in 2019 and a minimum value of 6.14 in 1966.

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
1966 6.14
1967 6.36
1968 6.84
1969 7.24
1970 7.76
1971 8.34
1972 9.33
1973 10.91
1974 15.15
1975 18.23
1976 19.14
1977 20.74
1978 22.70
1979 25.69
1980 29.40
1981 33.68
1982 37.16
1983 39.11
1984 40.94
1985 42.54
1986 43.11
1987 44.54
1988 46.70
1989 49.59
1990 51.12
1991 54.32
1992 57.63
1993 58.27
1994 58.31
1995 59.41
1996 60.83
1997 65.52
1998 64.68
1999 65.69
2000 67.29
2001 69.03
2002 69.12
2003 70.23
2004 71.21
2005 75.55
2006 81.07
2007 84.34
2008 91.17
2009 94.50
2010 100.00
2011 109.43
2012 114.39
2013 116.47
2014 118.53
2015 117.21
2016 118.71
2017 124.25
2018 128.81
2019 134.09

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