How does the personal inflation calculator work?
The personal inflation calculator determines your personal inflation rate based on your consumption pattern. Allocate your monthly spending into the various categories of goods and services to find out your inflation rate. You can then compare your spending pattern with the average in your country.
Step 1: Select the country where you live
Select your country to compare your inflation rate with the national average. You can also compare your results with the inflation rates of different euro area countries and with the inflation rate for the euro area as a whole.
Step 2: Enter details about your personal spending pattern
Enter your spending in the 12 main categories. If you want a more detailed calculation you can also use the sub-categories to divide up your consumption even further. Provide best guess estimates for categories containing relatively rare but high expenses. For cars, divide the total purchase price you paid for a new or used car by the number of months you plan to use it. For example, if you plan to use your car for six years, that will be 72 months (6 x 12 = 72).
Step 3: Your results
Scroll down to see the official inflation rate for the selected time period and your personal inflation rate. The difference between the two rates indicates whether your personal inflation rate is higher or lower than the official inflation rate. You can also see which goods and services recorded the greatest change in their individual inflation rates. The images that appear in “Your personal consumption basket” and “Your personal inflation history” show your personal spending pattern compared with the corresponding values of the HICP and chart your personal inflation rate over time.
What data does the calculator use?
In order to estimate your personal inflation rate, the calculator needs the following data: the average monthly amount you spend on goods and services (you have to enter these data yourself) and data on developments in the prices of goods and services purchased by you (the calculator obtains these data automatically from the ECB’s Statistical Data Warehouse).
Are the data on my consumption expenditure stored?
Data on your consumption expenditure are not stored anywhere. The calculator uses only newly entered data. If you delete any of the figures you enter or close the calculator, it will not “remember” them.
How frequently are the data used in the personal inflation calculator updated?
The data on price developments used in the personal inflation calculator are downloaded from the Statistical Data Warehouse which updates inflation data every month. This means that the update frequency of the data used by the calculator is also monthly.
How is the personal inflation rate calculated?
The estimate of the personal inflation rate is a figure that summarises changes in the prices of all the goods and services that a person buys. If an individual purchases more goods and services that record higher price rises, their personal inflation rate will be higher than the rate of someone who purchases more goods and services with smaller price rises. The personal inflation rate is calculated as a “weighted” average of the inflation rates of all goods and services consumed by one person. The weights are equal to the expenditure shares entered by you.
Does the calculator provide a perfectly accurate personal inflation estimate?
The calculator provides personal inflation estimates, but to be perfectly accurate they would need to incorporate all of the following data:
· The current prices of every single product and service purchased
· The previous year’s prices for every single product and service purchased
· The monthly amount spent on every single product and service
Therefore, although it is possible to calculate an absolutely accurate personal inflation rate, this would require significant additional effort to obtain all the data.
You can find similar inflation calculators on the websites of some of the euro area national statistical institutes and national central banks:
National statistical institutes:
Central Statistics Office (Ireland)
Centrālā statistikas pārvalde (Latvia)
Lietuvos statistika (Lithuania)
Instituto Nacional de Estatística (Portugal)
Your personal inflation rate
The Harmonised Index of Consumer Prices (HICP) is based on an average shopping basket of goods and services which reflects the spending of all households in the euro area. However, every individual household’s spending habits are different. This also means that they react in different ways to changes in the prices of individual goods and services. The personal inflation calculator allows you to discover your own inflation rate and to compare it with the official inflation rate in your country.
This calculator determines your personal inflation rate based on your consumption habits. You can compare your personal inflation rate with the HICP and see what impact the goods and services you normally buy have on your inflation rate.
|Classification of goods and services||Annual inflation in March 2021 (%)||Your average monthly consumption (EUR)||Your personal consumption basket|
|0. Overall index||1.3||Average inflation rate in your selected country|
|1. Food and non-alcoholic beverages||0.7|
|1.2. Non-alcoholic beverages||0.6|
|2. Alcoholic beverages, tobacco||2.7|
|2.1. Alcoholic beverages||0.4|
|3. Clothing and footwear||-1.3|
|4. Housing, water, electricity, gas and other fuels||1.6|
|4.1. Actual rentals for housing||1.2|
|4.3. Maintenance and repair of the dwelling||1.5|
|4.4. Water supply and miscellaneous services relating to the dwelling||1.5|
|4.5. Electricity, gas and other fuels||2.3|
|5. Furnishings, household equipment and routine household maintenance||0.8|
|5.1. Furniture and furnishings, carpets and other floor coverings||1.5|
|5.2. Household textiles||-0.2|
|5.3. Household appliances||0.7|
|5.4. Glassware, tableware and household utensils||0.9|
|5.5. Tools and equipment for house and garden||0.2|
|5.6. Goods and services for routine household maintenance||0.4|
|6.1. Medical products, appliances and equipment||0.3|
|6.2. Out-patient services||-0.5|
|6.3. Hospital services||1.8|
|7.1. Purchase of vehicles||1.7|
|7.2. Operation of personal transport equipment||4.9|
|7.3. Transport services||0.8|
|8.1. Postal services||2.0|
|8.2. Telephone and telefax equipment||-8.2|
|8.3. Telephone and telefax services||-0.9|
|9. Recreation and culture||1.7|
|9.1. Audiovisual, photographic and information processing equipment||-0.8|
|9.2. Other major durables for recreation and culture||1.4|
|9.3. Other recreational items and equipment, gardens and pets||1.5|
|9.4. Recreational and cultural services||1.2|
|9.5. Newspapers, books and stationery||1.7|
|9.6. Package holidays||-1.1|
|10.1. Pre-primary and primary education||1.7|
|10.2. Secondary education||1.3|
|10.3. Post-secondary non-tertiary education||-0.4|
|10.4. Tertiary education||-2.4|
|10.5. Education not definable by level||1.2|
|11. Restaurants and hotels||0.7|
|11.1. Catering services||1.4|
|11.2. Accommodation services||-2.0|
|12. Miscellaneous goods and services||1.7|
|12.1. Personal care||1.1|
|12.3. Personal effects n.e.c.||1.3|
|12.4. Social protection||4.1|
|12.6. Financial services n.e.c.||3.9|
|12.7. Other services n.e.c.||1.5|
|% of total monthly consumption|
Your personal inflation rate in March 2021 was higher than the average HICP inflation rate in your selected country, because you spent more than the average in the following consumption group(s): .
Your personal inflation rate in March 2021 was higher than the average HICP inflation rate in your selected country, because you spent less than the average in the following consumption group(s): .
Your personal inflation rate in March 2021 was lower than the average HICP inflation rate in your selected country, because you spent more than the average in the following consumption group(s): .
Your personal inflation rate in March 2021 was lower than the average HICP inflation rate in your selected country, because you spent less than the average in the following consumption group(s): .
Your personal inflation rate in March 2021 was the same as the average HICP inflation rate in your selected country.
Goods and services with the highest inflation in your selected country in March 2021.
Goods and services with the lowest inflation in your selected country in March 2021.
Average HICP inflation in your selected country
7.2. Operation of personal transport equipment 4.9%
2.2. Tobacco 4.3%
12.4. Social protection 4.1%
8.2. Telephone and telefax equipment -8.2%
10.4. Tertiary education -2.4%
11.2. Accommodation services -2.0%
% of total monthly consumption
Percentages compared to prices a year ago