Consumer Price Index

Consumer Price Index is an estimative indicator, which characterizes the general trends of the prices for purchased goods and the tariffs for services used by the population, in order to satisfy their needs over a certain period of time (current period) in comparison to a fixed period (base period).

The calculation of indices is based on the structure of households expenditures and the prices recorded for 1200 goods and services, representative in all forms of trade and services provided, in 900 centres of 8 cities of the country.

For the calculation of the given index, there are taken into consideration only the elements included in the population consumption (excluding the own consumption of goods and services; expenditures for taxes, fires, interest rates, securities and other).

The list of foodstuff and non-foodstuff products and services, for which the prices and tariffs are registered, includes the goods and services with the highest weight in the consumption expenditures of the population, thus the change of their prices would reflect the trend of the group prices, to which they belong.

Monthly inflation rate represents the increase in consumer prices in one month as against the previous month.

Monthly average inflation rate expresses the average of monthly price increases. It is calculated as a geometrical mean of the monthly consumer price indices with a chain base from which the comparison basis equal to 100 is subtracted.

Yearly average inflation rate represents the average increase in consumer prices in one year as against the previous year.

This rate is calculated as a ratio, expressed in percentages, between the average price index of one year and that of the previous year, from which 100 is subtracted. At their turn, the average price indices of these two years are determined as simple arithmetic means of the monthly indices from each year, calculated as against the same base.

Yearly inflation rate represents the increase in consumer prices in one month of the current year, as against the same month of the previous year. It is calculated as a ratio, expressed in percentages, between the price index of one month of the current year and the price index of the corresponding month of the previous year, calculated as against the same basis, from which 100 is subtracted.

Inflation rate at the end of the year represents the consumer price increase in December of one year as against the same month of the previous year.

The inflation rate is calculated based on the product of the monthly indices with a chain base in relation to 100. This product is expressed in percentage, and 100 is subtracted from it.

Agricultural production price indices

Agricultural production sale volume covers the sale of own agricultural production obtained by the agricultural enterprises and organizations producing agricultural products (including farms with agricultural land area of 50 ha and over), regardless of the organizational-legal form and ownership type, through all sale channels, including the production sold through barter. The quantity of the agricultural production sold to enterprises and organizations collecting and processing agricultural production is indicated in equivalent mass, received for payment; through other sale channels – in physical mass.

Agricultural production value is reflected: with increments and price discounts for the quality of the sold production, excepting the taxes on products which are to be paid (value added tax, excise duties, transportation fees, production loading and unloading). The value of the agricultural production does not include the amounts of allowances and compensations for the expenses incurred for the agricultural production from the state budget and other sources.

Agricultural production sale price – the monetary value of a production unit.

Agricultural production average sale price is calculated by groups of products, specifying the main agricultural crops.

Agricultural production price indices are calculated based on real average prices set for the sold production during the reported period, in percentages as against the previous year.

The price indices may be obtained in two ways:

• Individual agricultural products’ price indices, which measure the evolution of prices for certain agricultural products sold during the current period as against the base or reference period.
• Aggregated price indices (Paasche formula), which are calculated by groups of products:
• cereals and leguminous-crops 
• industrial crops  
• potatoes 
• vegetables
• melons and gourds  
• forage crops
• fruits and berries 
• grapes
• planting material for orchards, vineyards and fruit trees
• flowers
• dry walnuts
• livestock and poultry (in live weight) 
• milk
• eggs
• wool (in natural weight)
• karakul and skin
• bee honey

Physical volume induces of agricultural production sale – are calculated as the ratio between the quantity of production during the reported period in prices of the base period and the value of production during the base period in prices of the base period.

The Industrial Production Price Index

Price Index for industrial production determines the trend of prices for industrial production at the first stage of shipping (without value added tax and excises). The index is calculated monthly, based on statistical records of prices for 1860 representative products in approximately 300 industrial enterprises.

The research of product prices is based on the PRODMOLD 2013 nomenclature of industrial products, harmonized at European standard, 2013 list.

To develop the Industrial Production Price Index, only the transactions from the first trading stage are taken into account, when the products leave the production enterprises.

The object of commercial transactions carried out by the industrial producers to buyers refers to the products sold at the most detailed level (products-assortment). The list of these products is set preventively and is constant for a certain period of time with the possible update upon need.

Commercial transactions may be carried out on the domestic and non-domestic markets.

Observed variable represents the price associated with the transaction, which will be determined depending on the seller (economic unit), the specific nature of the product - subject to transaction, type of buyer, and other characteristics of the transaction.

The prices for the products sold by the economic units are registered separately for deliveries on the domestic and non-domestic markets.

Price Index in construction

Price Index in construction is the ratio between the current prices for construction-assembly works, registered quarterly in 100 representative enterprises to the estimate prices from 1991 and prices from the previous year.

Unit value Indices of external trade

Unit value Indices of external trade characterize the changes in value of exports and imports based on the changes of prices, while the volumes are the same. The calculation of unit value indices is based on the data obtained from custom declarations for total exports and imports, and separately for every good, group of goods. The goods selected for the calculations (representative goods) include all homogenous commodities codified according to the Nomenclature of goods, at the 9 digit level, with the information available on quantity and cost, for the reporting and for the base period. The base period for the calculation of unit value indices is considered the previous year.