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Data set notes

European Health for All database

Indicators: 565

Updated: 18 October 2024

Contact: Data and Digital Health Unit (DDH)

The following abbreviations are used in the indicator titles:

• SDR: age-standardized death rates (see HFA-DB user manual/Technical notes, page 13, for details)

• FTE: full-time equivalent

• PP: physical persons

• PPP$: purchasing power parities expressed in US $, an internationally comparable scale reflecting the relative domestic purchasing powers of currencies.

More information: http://www.euro.who.int/en/data-and-evidence/databases/european-health-for-all-database-hfa-db

Indicator notes

Annual average rate of inflation (%)
Indicator code: E990003.T

The World Bank definition is applied. The inflation rate is measured by the growth rate of the GDP implicit deflator in the given year as compared to the previous year. (WHO/EURO uses ECE, WB or UNDP as common data sources.)_

Country/Area notes

Belgium

Source: National Bank of Belgium (data sent to the World Bank). The annual average rate of
inflation is calculated from the nominal and real GDP available in the ?NBB.Stat? database of the
National Bank of Belgium: http://stat.nbb.be/.

Bosnia and Herzegovina

http://www.cbbh.ba/files/godisnji_izvjestaji/2013/GI_2013_bs.pdf (Central Bank)
Statistical Institute of Republic of Srpska; http:// www.rzs.rs.ba

Cyprus

The rate represents the national inflation rate and not the harmonised rate.

Czechia

Source: Czech Statistical Office (CZSO)

Denmark

Source: StatBank Denmark (www.dst.dk). Table PRIS9.

Estonia

Source: Statistical Office of Estonia, Bank of Estonia.

Finland

Source: Statistics Finland

France

Source of data: Price Index for consumption - Base 2015 - Annual changes - All households - France ?
Together National statistics institute

Germany

Source: Federal Statistical Office, Consumer Price Statistics - Harmonised Index of Consumer Prices.
http://www.destatis.de
Estimation method: The methodology for calculating the Harmonised Index of Consumer Prices (HICP)
has been laid down in various regulations of the European commission and in supplementary
guidelines. Like the Consumer Price Index (CPI) for Germany, this index bases on the international
?Classification of Individual Consumption by Purpose? (COICOP). The prices collected for the German
CPI are also used to calculate the German HICP and like the CPI, the HICP measures only pure price
changes. It?s a Laspeyres price index which, in formal terms, is calculated as a chain index. In
Germany, the index weights are generally updated at five-year intervals, with the HICP weighting
elements being price-updated annually in line with the December prices of the previous year. The
current weights are based on the consumption structure of the year 2005.

Iceland

Source: National Economic Institute (until 2002) / Statistics Iceland (from 2003).

Ireland

Source: Central Statistics Office. Refers to the percentage change of the Consumer Price Index,

Israel

Implicit changes in prices (obtained as the ratio between the nominal and the quantity change of the
GDP).
Source: National Accounts, Statistical Abstract of Israel, Central Bureau of Statistics.

Italy

Source: Istat, National accounts.
Data for the period 2000-2015 have been estimated on the basis of the updated version of GDP,
under SEC2010, and are consistent with the revised time series of national accounts. Price index
(2010=100).

Latvia

Calculation method: The annual rate of inflation is calculated as an annual rate of change of the
Consumer price index (December of the current year compared to December of the previous year).

Lithuania

Source: Central Statistical Office (CSO).

Luxembourg

Source: Since 2010 The Wolrd Bank definition is applied
Before 2010: Ministere de l'Economie. Publication by Statec.

Malta

Source: National Statistic Office.

Montenegro

Data are not available.

Netherlands

Source of data: Statistics Netherlands

North Macedonia

Source: State Statistical Office (SSO)

Poland

Source of data: Central Statistical Office.

Portugal

Source of data: National Statistical Institute Coverage: National

Romania

Source : data received from Romania?s National Institute for Statistics (WB methodology)
link: INS http://www.insse.ro/cms/ro/content/ipc-serii-de-date

Serbia

Source of data: National Bank of Serbia, National Statistical Office. From 2007 onwards Consumer
Price Index by COICOP is calculated as the measure in inflation in the Republic of Serbia.

Slovakia

Source: Statistical Office of the Slovak Republic

Slovenia

Source of data: Statistical Office of the Republic of Slovenia.

Spain

Source: National Statistics Institute, extracted from ?Consumer Price Index. Base 2011?
http://www.ine.es/jaxi/menu.do?type=pcaxis&path=%2Ft25/p138&file=inebase&L=1

Sweden

Source of data: Statistics Sweden, annual average rate of inflation 1831-2015
www.scb.se (Online Statistical Databaseÿ; table: PR0101_2015M12_DI_06-07_EN, table: PR0101D3)
http://www.scb.se/sv_/Hitta-statistik/sok/?query=Inflation+and+price+level+in+Sweden+1831+-+2010
http://www.statistikdatabasen.scb.se/pxweb/sv/ssd/START__PR__PR0101__PR0101A/KPI12MNy/?rxid=0de9e8bf
-5d84-45de-a6ce-8d1cbbdd43ae

Türkiye

Source of data: TURKSTAT

Ukraine

November 2002: Source: Goskomstat

General notes

What is the Annual Average Rate of Inflation (%)?

The annual average rate of inflation represents the percentage change in the price level of goods and services across a country over a year. It is a critical economic indicator that reflects the cost of living and purchasing power of a currency. By tracking inflation, economists, policymakers, and businesses can gauge the health of an economy, make informed decisions, and adjust monetary policies accordingly. This rate is calculated by comparing the Consumer Price Index (CPI) at the beginning and end of the year, providing a clear picture of how prices have risen over that period.

Importance of the Annual Average Rate of Inflation (%)

Understanding the annual average rate of inflation is crucial for both economic and social planning. Governments use this data to adjust monetary policy, manage economic growth, and control inflation to a stable rate. For individuals, inflation impacts daily life by influencing the cost of living, savings, and investment returns. Businesses adjust prices, wages, and budgets based on inflation rates to maintain profitability and competitiveness. Thus, a stable inflation rate is often seen as a sign of a healthy economy, influencing national and international economic strategies.

Strengths and Limitations of the Annual Average Rate of Inflation (%)

While the annual average rate of inflation is a vital economic indicator, it comes with its own set of strengths and limitations that affect its utility and accuracy.

Strengths

The primary strength of measuring the annual average rate of inflation lies in its ability to provide a standardized economic measure that facilitates international comparisons and long-term economic planning. It helps policymakers in setting interest rates and regulating monetary supply to manage economic stability. Additionally, consistent inflation measurement supports businesses and investors in making informed financial decisions, contributing to economic predictability and stability.

Limitations

However, the calculation of inflation also faces several challenges. The CPI, used in measuring inflation, might not accurately represent the true cost of living as it only tracks a fixed basket of goods and services. Changes in consumption patterns, technological advancements, and availability of new products are not immediately reflected in the CPI. Moreover, inflation does not affect all demographics equally, often hitting lower-income households harder as they spend a larger proportion of their income on essentials, which may inflate faster than luxury goods. Additionally, external factors like geopolitical events, supply chain disruptions, and natural disasters can lead to sudden inflation spikes that are not indicative of the general economic climate.

Overall, while the annual average rate of inflation is an essential tool for economic assessment and planning, it must be interpreted with an understanding of its broader context and inherent limitations to fully grasp its implications on the economy and society.