{"approval_status":"approved","author":null,"author_email":null,"cautions":"

Data is not available for every country for each year. It is only available for years with consumption data available to calculate CPI.
The laspeyres formula tends to overstate yearly price increases, so it tends to overestimate price levels and inflation.

","citation":"World Bank Group. \"Inflation, Consumer Prices (annual %)\" [https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG](https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG). Accessed through Resource Watch, (date). [www.resourcewatch.org](https://www.resourcewatch.org/).","creator_user_id":"4fea4197-b711-4260-ae6a-afa5f1cdae6c","draft":false,"featured_dataset":false,"function":"

Annual percentage change in the cost of acquiring consumers goods and services for each year 1960-present

","has_chart_views":false,"id":"59056797-1efd-4335-b359-4b94cb76bd87","is_approved":true,"isopen":false,"language":"en","learn_more":"https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG","license_title":null,"maintainer":"Samantha Kuzma","maintainer_email":"samantha.kuzma@wri.org","metadata_created":"2024-04-25T15:09:24.008732","metadata_modified":"2024-07-16T16:27:22.541987","methodology":"

Methodology

The dataset was created by comparing CPI between years for each country. The CPI and inflation rate for each country was calculated using the Laspeyres formula. When a large range of goods and services are used in the formula it can be used to measure changes in a country’s cost of living. The Laspeyres formula was calculated by working out the cost of a group of commodities at the target year, dividing this by the cost of the same group of commodities at the previous year prices, and then multiplying by 100. The Laspeyres formula uses a base value of 100, so a value of 102 actually means there was an inflation rate of 2%. CPI data was taken from the International Monetary Fund, International Financial Statistics and data files.

For the full documentation, please click on the “Learn more” button.

\n","migration_extras":{"dataset.errorMessage":"","dataset.connectorType":"rest","metadata.description":"### Overview \n \nThe Inflation dataset shows national annual rates of inflation for each year from 1960-2019. Inflation reflects the annual percentage change in cost to the average consumer of acquiring specific goods and services. The dataset calculates inflation using the consumer price index (CPI), which is a weighted average of prices of a basket of consumer goods and services that can be measured and compared yearly. The dataset includes all countries that have CPI data available and has a national spatial resolution. It uses the units of percent change (% change) to compare how consumer prices have changed compared to previous years.\n\n \n \nThe dataset is created by The World Bank with data from the International Monetary Fund (IMF). Inflation affects the purchasing power of a currency, so when inflation increases, each unit of currency buys fewer goods and services. Understanding and monitoring national inflation rates is important for governments and financial institutions in creating economic policies that reflect the state of their economy. \n \n### Methodology \n \nThe dataset was created by comparing CPI between years for each country. The CPI and inflation rate for each country was calculated using the Laspeyres formula. When a large range of goods and services are used in the formula it can be used to measure changes in a country’s cost of living. The Laspeyres formula was calculated by working out the cost of a group of commodities at the target year, dividing this by the cost of the same group of commodities at the previous year prices, and then multiplying by 100. The Laspeyres formula uses a base value of 100, so a value of 102 actually means there was an inflation rate of 2%. CPI data was taken from the International Monetary Fund, International Financial Statistics and data files.\n\n \n \nFor the full documentation, please click on the “Learn more” button. \n \n### Additional Information \n \nResource Watch shows only a subset of the dataset. For access to the full dataset and additional information, click on the “Learn more” button. \n \n### Visualizing the Data \n \nOur team reformatted this dataset before displaying it on Resource Watch. See the documentation on how Resource Watch processed the data on [Github](https://github.com/resource-watch/nrt-scripts/tree/master/upload_worldbank_data). This data has been mapped on Resource Watch by joining it with Natural Earth boundaries. \n \n### Disclaimer \n \nExcerpts of this description page were taken from the source metadata.","metadata.info.sources.0.source-description":"World Bank Group","metadata.info.citation":"World Bank Group. \"Inflation, Consumer Prices (annual %)\" [https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG](https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG). Accessed through Resource Watch, (date). [www.resourcewatch.org](https://www.resourcewatch.org/).","metadata.dataset_id":"5ebafd747fe3c8001be2f22e","metadata.info.geographic_coverage":"Global","metadata.createdAt":"2020-05-12T19:48:04.637Z","metadata.dataset_type":"metadata","metadata.info.data_type":"Tabular","metadata.info.spatial_resolution":"National","metadata.info.date_of_content":"1960-present","dataset.dataset_id":"4996cdb1-6169-46b7-9a74-0adf0e2ef1ce","dataset.geoInfo":"true","metadata.info.frequency_of_updates":"Annual","dataset.env":"production","dataset.type":"tabular","dataset.published":"true","metadata.info.sources.0.id":"0","metadata.info.license":"Creative Commons Attribution 4.0 International","dataset.status":"saved","metadata.updatedAt":"2022-03-18T05:05:53.319Z","dataset.mainDateField":"","metadata.info.rwId":"soc.102.rw0","metadata.info.cautions":"- Data is not available for every country for each year. It is only available for years with consumption data available to calculate CPI.\n- The laspeyres formula tends to overstate yearly price increases, so it tends to overestimate price levels and inflation.","dataset.createdAt":"2020-05-05T14:45:29.431Z","metadata.language":"en","dataset.userId":"58f63c81bd32c60206ed6b12","metadata.info.sources.0.source-name":"","metadata.info.license_link":"https://creativecommons.org/licenses/by/4.0/","metadata.info.sources.1.id":"1","dataset.application.0":"rw","metadata.name":"Inflation","dataset.tableName":"soc_102_inflation_edit","metadata.info.functions":"Annual percentage change in the cost of acquiring consumers goods and services for each year 1960-present","metadata.source":"World Bank Group/IMF","dataset.slug":"soc102-Inflation","metadata.resource.id":"4996cdb1-6169-46b7-9a74-0adf0e2ef1ce","dataset.subtitle":"","dataset.connectorUrl":"https://wri-rw.carto.com/tables/soc_102_inflation_edit/public","dataset.overwrite":"false","dataset.name":"soc.102 Inflation","dataset.updatedAt":"2020-06-08T14:11:57.234Z","metadata.resource.type":"dataset","metadata.info.sources.1.source-name":"","dataset.dataset_type":"dataset","metadata.info.data_download_original_link":"https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG","dataset.dataPath":"","dataset.protected":"false","metadata.status":"published","metadata.info.sources.1.source-description":"International Monetary Fund (IMF)","metadata.info.data_download_link":"https://wri-public-data.s3.amazonaws.com/resourcewatch/soc_102_inflation.zip","metadata.info.name":"Inflation","metadata.application":"rw","metadata.info.learn_more_link":"https://data.worldbank.org/indicator/FP.CPI.TOTL.ZG","metadata.info.technical_title":"Inflation, Consumer Prices (annual %)","dataset.requested_application":"rw","dataset.provider":"cartodb","metadata.dataset":"4996cdb1-6169-46b7-9a74-0adf0e2ef1ce"},"name":"soc-102-inflation-rw","notes":"

Overview

The Inflation dataset shows national annual rates of inflation for each year from 1960-2019. Inflation reflects the annual percentage change in cost to the average consumer of acquiring specific goods and services. The dataset calculates inflation using the consumer price index (CPI), which is a weighted average of prices of a basket of consumer goods and services that can be measured and compared yearly. The dataset includes all countries that have CPI data available and has a national spatial resolution. It uses the units of percent change (% change) to compare how consumer prices have changed compared to previous years.

The dataset is created by The World Bank with data from the International Monetary Fund (IMF). Inflation affects the purchasing power of a currency, so when inflation increases, each unit of currency buys fewer goods and services. Understanding and monitoring national inflation rates is important for governments and financial institutions in creating economic policies that reflect the state of their economy.

Additional Information

Resource Watch shows only a subset of the dataset. For access to the full dataset and additional information, click on the “Learn more” button.

Visualizing the Data

Our team reformatted this dataset before displaying it on Resource Watch. See the documentation on how Resource Watch processed the data on Github. This data has been mapped on Resource Watch by joining it with Natural Earth boundaries.

Disclaimer

Excerpts of this description page were taken from the source metadata.

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