Libya - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Libya was 125.71 as of 2013. As the graph below shows, over the past 49 years this indicator reached a maximum value of 125.71 in 2013 and a minimum value of 10.78 in 1964.

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
1964 10.78
1965 12.01
1966 13.48
1967 14.47
1968 14.53
1969 15.95
1970 15.10
1971 14.63
1972 14.60
1973 15.76
1974 16.94
1975 18.48
1976 19.49
1977 20.72
1978 26.80
1979 25.18
1980 27.64
1981 30.73
1982 33.88
1983 37.48
1984 42.15
1985 46.01
1986 47.52
1987 49.59
1988 52.61
1989 53.40
1990 57.92
1991 64.81
1992 70.87
1993 78.72
1994 82.74
1995 88.73
1996 92.31
1997 95.59
1998 99.13
1999 101.76
2000 98.81
2001 90.10
2002 81.27
2003 79.49
2004 77.74
2005 79.80
2006 80.97
2007 86.03
2008 94.94
2009 97.28
2010 100.00
2011 115.52
2012 122.52
2013 125.71

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