OECD Consumer Price Index

About the OECD Consumer Price Index

The OECD Consumer Price Index (CPI) is an indicator that measures price changes in goods and services purchased by consumers across OECD member countries. It is set with 2015 as the base year (100), showing whether subsequent price levels are above or below this baseline. By tracking price trends across a wide range of categories necessary for daily life—including food, energy, housing, healthcare, and education—it is possible to grasp changes in the actual cost of living for consumers.

There are multiple reasons why this indicator is important. First, it enables international comparison of inflation. Central banks and policymakers in each country consider adjustments to monetary policy by understanding relative inflation rates compared to other nations. Second, it is essential for assessing consumer purchasing power. As prices rise, the quantity of goods and services that can be purchased with the same amount of money decreases, directly affecting living standards. Third, it functions as foundational data for international economic analysis and comparative research, supporting decision-making by economists and investors.

As a general trend, the CPI in developed countries has risen gradually in the long term, but since 2021, they have experienced rapid price increases due to surging energy prices and supply chain disruptions. There are differences in inflation rates among countries, which affect exchange rates and international competitiveness. Key points to watch going forward include whether the monetary tightening by central banks in each country can appropriately contain inflation, and what impact this has on economic growth and employment.