The CPI measures changes in the prices of goods and services which are representative of the consumption of private households. It indicates how much consumers have to increase or decrease their expenditure to maintain the same volume of consumption despite fluctuating prices.
The Consumer Price Index is intended for many different uses and must therefore satisfy all kinds of criteria. These uses range from evaluating the economic system in terms of economic policy in general and monetary policy in particular to assessing Switzerland's ability to compete at international level. They also include the indexing of wages, pensions and other monetary values and by definition, in real terms, of economic growth as well as of salary movements and changes in turnover.
Since its creation in 1922, the CPI has been revised ten times (1926, 1950, 1966, 1977, 1982, 1993, 2005, 2010 and 2015). Regular revision of the index is important to take account of changes in market structures, product ranges and consumption. As part of these revisions, the CPI is calculated using a new base. These publication describes the methodological foundation of the current index using December 2015=100 points as its base. The next full-scale revision of CPI content and methodology is scheduled for 2020.
