Papua New Guinea - Consumer price index (2010 = 100)

The value for Consumer price index (2010 = 100) in Papua New Guinea was 170.84 as of 2021. As the graph below shows, over the past 50 years this indicator reached a maximum value of 170.84 in 2021 and a minimum value of 5.50 in 1971.

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
1971 5.50
1972 5.84
1973 6.33
1974 7.79
1975 8.61
1976 9.27
1977 9.69
1978 10.25
1979 10.84
1980 12.15
1981 13.13
1982 13.85
1983 14.95
1984 16.06
1985 16.65
1986 17.56
1987 18.15
1988 19.14
1989 19.99
1990 21.38
1991 22.87
1992 23.86
1993 25.05
1994 25.76
1995 30.21
1996 33.72
1997 35.06
1998 39.82
1999 45.77
2000 52.91
2001 57.82
2002 64.65
2003 74.16
2004 75.76
2005 77.11
2006 78.93
2007 79.65
2008 88.22
2009 94.33
2010 100.00
2011 104.44
2012 109.18
2013 114.60
2014 120.58
2015 127.81
2016 136.34
2017 143.73
2018 150.02
2019 155.91
2020 163.51
2021 170.84

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